Petrobras sells interest in Gila blocks of GoM

Petróleo Brasileiro S.A has signed an agreement to sell its 20% stake in exploratory blocks KC 49, 50, 92, 93, 94, and 138 in the US Gulf of Mexico.

Offshore staff

RIO DE JANEIRO – Petróleo Brasileiro S.A (NYSE:PBR) has signed an agreement to sell its 20% stake in exploratory blocks KC 49, 50, 92, 93, 94, and 138 in the US Gulf of Mexico. The buyer was not named.

These blocks make up the asset known as Gila, and the operator is British Petroleum (BP).

Petrobras will receive $ 110 million for the transaction and additional equity in an exploratory block adjacent to an existing deepwaterdiscovery Tiber.

This transaction is part of Petrobras’ 2013-2017 Business & Management Plan, and is subject tothird party preferential rights and approval by the U.S. Bureau of Ocean Energy Management (BOEM).

5/1/13

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