July 3, 2019 / 12:11 PM / 16 days ago

Brazil's Petrobras begins non-binding phase for onshore oilfield sale

RIO DE JANEIRO, July 3 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA has begun the non-binding phase for the sale of its Polo Reconcavo onshore oil and gas cluster in the northeastern state of Bahia, the company said on Wednesday.

During this phase of the process, interested parties are to make non-binding offers for the cluster, which is composed of 14 oilfields. Polo Reconcavo had an average production of 2,800 barrels per day of oil and 588,000 cubic meters of gas in 2018, the company said. (Reporting by Gram Slattery Editing by Chizu Nomiyama)

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