Petrobras looking to sell Nigerian upstream assets

Petrobras is seeking to sell its Nigerian upstream assets as part of a broad divestment strategy.
By Staff reporter 8 November 2017 0 28291

Brazilian state-run giant Petrobras is seeking to sell its Nigerian upstream assets, held by subsidiary Petrobras Oil & Gas (POGBV), as part of a broad divestment strategy.

POGBV owns interests in two deepwater offshore blocks in Nigeria that contain the Akpo and Agbami producing fields, the Egina development and the Preowei discovery.

POGBV has around 204 million barrels of oil reserves.

Petrobras is still heavily indebted, but the company says it is on course to meet its 2017-2018 divestment target of $21 billion.

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