Petronas Looks to Sell Brazil Field Stake ...Middle East

OILPRICE - Economy
Petronas Looks to Sell Brazil Field Stake
source : OILPRICE ( Middle East ) () 84
Malaysia’s Petronas is looking for buyers for its 50% stake in the Tartaruga Verde field in Brazil, eyeing proceeds of up to $1 billion, Bloomberg has reported, citing unnamed sources. The Malaysian major bought the stake in 2019 from Petrobras, which owns the other 50% of the field, which is located in the Campos Basin—one of Brazil’s most prolific oil regions. Earlier this year, reports emerged that Petronas was mulling over a divestment of its Canadian business. Per those reports, the company was working with a financial adviser…

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