Reuters
Petroleo Brasilerio SA, or Petrobras, Chief Financial Officer Ivan Monteiro and Exploration and Production chief Solange Guedes spoke to reporters in Sao Paulo about the company’s agreement to sell its 66 percent stake in the BM-S-8 offshore block, home to the giant Carcara field, to Norway’s Statoil ASA.
* Recent Petrobras asset sales an important sign company is moving forward with large plan to sell assets including BR Distribuidora fuels unit and onshore oil fields.
* Petrobras says strategy and asset-sale plan is based on generating cash in the near term.
* Petrobras CFO Monteiro says sale of Chile, Argentina, and Brazil offshore and petrochemical assets shows company is keeping its promises.
* Petrobras exploration and production chief says sale of 66 percent stake in offshore Carcará field to Norway’s Statoil will free up cash for investments that will have expected return sooner.
* Petrobras says Carcara offshore oil stake sold to Statoil will only bring return to owners in next decade.
* Petrobras says Carcara field sold to Statoil will require equipment that is very different than Petrobras’ existing subsalt systems and will cost 25 percent to 30 percent more than its standard offshore systems.
* Petrobras says its asset sales are very focused on protecting the company’s near term ability to generate cash Source text for Eikon: Further company coverage: (Reporting by Jeb Blount; Editing by Daniel Flynn)
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