Petrobras selling interests in 15 Gulf of Mexico fields

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Petrobras is selling its interest in a company that owns interests in 15 offshore fields in the U.S. Gulf of Mexico.

Petrobras has started the opportunity disclosure stage, regarding the sale of the entire 20 per cent stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico (MPGoM), located in Texas, which owns offshore fields in the Gulf of Mexico.

The transaction is in line with the Brazilian company’s strategy of portfolio optimization, debt reduction, and capital allocation improvement, as it increasingly concentrates its resources in assets in deep and ultradeep waters in Brazil.

Barclays will act as a financial advisor to Petrobras for this transaction.