Petrobras is selling some of its Marlim Oil Fields assets
The Brazilian Oil Giant moves ahead to reduce some of its debt.
Petrobras (breeder's right + 4%) says it has offered for sale a 50% stake in its old deep-sea oil cluster, Marlim, in the Campos basin off the Brazilian coast.
The huge Marlim cluster has four fields - Marlim, Voador, Marlim Leste, and Marlim Sul - which produce 217,000 bbl / day of oil, or nearly 10% of the company's total production, but the cluster's production has declined over the past decade, after producing more than 500,000 bbl / day once.
The sale, which is in its early stages, is part of Petrobras' plan to dispose of non-core assets to reduce debt and focus investments in the world's largest deep-sea discoveries in the pre-salt area. Earlier this month, Petrobras began the binding phase of the sale of four fields in shallow waters off the coast of the Brazilian state of Ceara.