February 3, 2020 / 11:57 AM / 13 days ago

Brazil's Petrobras launches sale of stake in offshore Papa-Terra oilfield - filing

BRASILIA, Feb 3 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA has started the teaser phase for the sale of its entire stake in the Papa-Terra field in the offshore deep water Campos Basin, it said in a securities filing on Monday.

Petrobras, with a majority 62.5% stake in the field, is in an aggressive de-leveraging process. The remaining 32.5% of the Papa-Terra operation is owned by Chevron Corp.. (Reporting by Jamie McGeever, editing by Louise Heavens)

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