Petrobras Said Selling Offshore Fields Worth Up to $2 Billion

Petroleo Brasileiro SA is Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term 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.

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.

To contact the reporters on this story: Sabrina Valle in Rio de Janeiro at svalle@bloomberg.net, Manuel Baigorri in London at mbaigorri@bloomberg.net. To contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Jeffrey Taylor

By: Sabrina Valle and Manuel Baigorri

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