Petrobras Delays Garoupa Offshore Oilfield Cluster Sale

Petrobras has delayed the submission of binding offers for an oilfield cluster known as Polo Garoupa for the fourth time, two sources with knowledge of the matter told Reuters, as investor appetite in Brazil’s offshore oil sector rapidly dries up.

With annual production of 19,600 barrels of oil equivalent per day according to bidding documents released last year by the state-run oil company, Garoupa is the largest production asset in Petrobras’ expansive divestment portfolio.

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