Brazil’s state-run oil and gas company Petrobras has started the sale process of its 100% interests in eight onshore exploration blocks in the Recôncavo Basin, in the state of Bahia, in northeastern Brazil. In addition, the group has sold all its stakes in the onshore fields of Ponta do Mel and Redonda, located in the Potiguar Basin, in the Brazilian state of Rio Grande do Norte, to Central Resources do Brasil Produção de Petróleo for US$7.2m; the buyer is active in the states of Rio Grande do Norte and Espírito Santo and focuses on the redevelopment of mature onshore fields.
In addition, Petrobras has signed an agreement with the State of Uruguay to transfer all the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI) in the gas distribution companies Distribuidora de Gas de Montevideo and Conecta to the Uruguayan State. The transactions are in line with Petrobras' portfolio optimization strategy.