The board of directors of Petrobras approved the opening of exclusive negotiations, for 30 days, of the sale of its equity interest in Petrobras Argentina with the firm Pampa Argentina.
In a note released today (Mar. 2), Petrobras points out that the transaction is yet to gain “the approval of its final terms and conditions by the Executive Board and the Management Council of Petrobras, as well as the competent regulatory agencies.”
The announcement was made early this year and comes as part of the firm's efforts to dispose of assets. The goal is to reduce indebtedness and raise funds for top-priority projects, most noticeably in the fields of exploration, especially that of pre-salt oil on the Campos Bay.
One of the four biggest producers of oil and natural gas in its country, Petrobras Argentina is also active in the distribution of oil petrochemicals, and energy generation.
Through this disinvestment process, Petrobras expects to raise over $12 billion. Asset disposals started timidly last year, when the government-controlled oil giant sold part of its equity interest in Gaspareto to the private sector.
In another communication, also released today, Petrobras announced the start of the sale process of a number of on-land oil fields. The initiative, approved by the board, is also being carried out as part of the disinvestment plan.
Translated by Fabrício Ferreira
Fonte: Agência Brasil.