Petrobras negotiates for R $ 1 billion sale of terrestrial fields in the NE to Starboard, private equity fund – Sources

March 10, 2019

Petrobras is closing an agreement with Starboard, a private equity firm specializing in asset restructuring, for the sale of a set of ten land-based fields in the Northeast. According to information from the newspaper “O Globo”, the business is valued at about R $ 1 billion.

Since 2017, Petrobras has put up for sale, in all, nine clusters of terrestrial production, which total 72 concessions. Of this total, the company sold, so far, only one cluster: that of Riacho de Forquilha (RN), the largest of them all, which concentrates 34 concessions.

The sale to 3R Petroleum, for $ 453 million, has already been approved by Petrobras, but has not yet been completed.

Source: Folha SP