Petrobras announces sales at Polo Tucano Sul

The state-owned Petrobras initiated a process of disclosure of opportunity regarding the sale of all its holdings in the so-called Polo Tucano Sul, which comprises four land fields and shared facilities for the disposal and treatment of production in Bahia.

In a statement, the oil company said that it is an operator with 100% participation in the fields (Conceição, Fazenda Matinha, Fazenda Santa Rosa and Querwill), which totaled average production of about 29000 cubic meters/day (m³/day) of gas.

The operation is aligned with the company's portfolio optimization, Petrobras added.

The operation takes place as part of a broad program of Petrobras ' disinvestments that has been occurring in recent years, but which has been intensifying during the government of Jair Bolsonaro, who named The Economist Roberto Castello Branco, of liberal line, to preside The company.

Last week, Petrobras announced that it will reduce its participation in BR Distribuidora from current 71% to 46% or up to 38%. The state has also announced the sale of eight refineries of its 13 refineries in order to raise about US $15 billion. In March, Petrobras also reported that it plans to reduce its operating costs by $8.1 billion.

The current management of the State seeks to raise resources with the sale of assets considered non-essential to focus their efforts on exploration and production of oil and gas in deep and ultradeep waters, high profitability.

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