Petrobras Considers Sale of Campos Basin Exploration Areas
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Petroleo Brasileiro SA, the Brazilian state-controlled oil company, may sell exploration areas in the country’s most prolific oil producing region as part of a plan to raise $13.6 billion from the sale of assets and cost savings.
Petrobras, as the Rio de Janeiro-based company is known, will consider selling “isolated blocks” in the southeastern Campos Basin that aren’t a priority for it to develop, Chief Executive Officer Jose Sergio Gabrielli said in New York today.