Brazil’s Petrobras Nears Sale of Offshore Oilfields

Brazil’s Petroleo Brasileiro SA is closing in on the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt.

By Newsfeed/Reuters

RIO DE JANEIRO, BRAZIL - Brazilian oil giant Petrobras has set a June 5 deadline to receive final binding offers for its Pampo and Enchova oilfields off the coast of Rio de Janeiro, said two sources with knowledge of the matter, who requested anonymity to discuss confidential matters.

Trident Energy, an independent oil company backed by private equity firm Warburg Pincus, is in pole position, though Petrobras has invited other firms to submit a final bid, including Rio de Janeiro-based Petro Rio SA and a consortium of EIG Global Energy Partners and local independent Ouro Preto Oleo . . .

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