May 23, 2018 / 12:31 PM / in 8 months

Brazil's Petrobras to divest deep-water Sergipe-Alagoas assets

SAO PAULO, May 23 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA on Wednesday said it would start receiving proposals for certain deep-water assets in the Sergipe-Alagoas basin as part of a divestment program aimed at bringing down debt levels.

Petrobras, as the firm is known, said in a securities filing it would sell stakes of between 20 percent and 50 percent in four blocks in the area, transferring rights to explore, develop and produce oil.

In a separate filing on Wednesday, Petrobras said it had extended the deadline to receive bids related to its Tartaruga Verde, Módulo III of Espadarte, and Baúna fields, without providing additional details.

Reporting by Ana Mano, Editing by Rosalba O'Brien

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