Petroleo Brasileiro SA is marketing offshore oil and natural gas fields worth as much as $2 billion as part of its plan to sell assets and pay down debt, said two people familiar with the matter.
Three fields — Bauna, Golfinho and Tartaruga — are for sale, said one person, who asked not to be named because the information isn’t public. Bank of America Merrill Lynch is coordinating the sales, said the people.
Petro Rio SA and LetterOne Holdings SA have put in offers for the Bauna field, said one of the people. Karoon Gas Australia Ltd is also bidding, according to a press person for the company.
The Brazilian state-run oil producer is cutting spending and selling assets after crude prices tumbled and Brazil’s biggest corruption scandal led to management changes. The producer aims to raise $14.4 billion from asset sales this year.
Petrobras has 90 days to give a response, one of the people said.
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Petro Rio didn’t immediately reply to an e-mailed request for comment. LetterOne declined to comment. Petrobras is in quiet period and declined to comment, a company spokesperson said by phone.
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