November 28, 2018 / 11:41 AM / 21 days ago

Brazil's Petrobras ceases participation in several oil fields

SAO PAULO, Nov 28 (Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA said Wednesday it had signed agreements to cease participation in several oil fields in Brazil’s northwest region.

The company said it had reached a $370 million deal with Perenco to cease its operations in the Polo Nordeste. It also said it had granted oil company 3R Petroleum a 40-year concession to operate 34 oil fields in Bacia Potigar, in a deal worth $453 million. (Reporting by Marcelo Rochabrun Editing by Edmund Blair)

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