Energy

Brazil's Petrobras begins binding phase for Alagoas oilfield sale

Credit: REUTERS/RICARDO MORAES

Brazil's Petrobras has begun the binding phase for the sale of a cluster of onshore and shallow-water oilfields in the nation's northeast known as Polo Alagoas, the state-run oil company said in a securities filing on Thursday night.

RIO DE JANEIRO, Oct 15 (Reuters) - Brazil's Petrobras has begun the binding phase for the sale of a cluster of onshore and shallow-water oilfields in the nation's northeast known as Polo Alagoas, the state-run oil company said in a securities filing on Thursday night.

Polo Alagoas produced an average of 2,300 barrels per day of oil from January through September and 878,000 cubic meters of gas, the company said.

During the binding phase, eligible buyers will submit binding offers for the asset.

The cluster is one of dozens of exploration and production assets being sold off by Petroleo Brasileiro SA PETR4.SA, as the firm is formally known, in a bid to reduce debt and focus the company's efforts in prolific deepwater zones.

(Reporting by Gram Slattery; Editing by Sandra Maler)

((gram.slattery@thomsonreuters.com; +55-11-95057-1453))

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