Petrobras Board Approves Sale Of Colombian Oil Assets To Perenco For $380 Mln

(RTTNews) - Brazil's national oil company, Petróleo Brasileiro SA (PBR), or better known as Petrobras, announced that its board has approved the sale of 100% of shares issued by Petrobras Colombia Limited to Perenco for $380 million.

The Petrobras Colombia assets which are part of the transaction include 11 onshore exploration and production blocks with an average production of 6,530 barrels of oil equivalent per day, as well as the Colombia and Alto Magdalena oil pipelines

The company said that it will keep its presence in Colombia through offshore exploratory blocks, distribution, in addition to 1 onshore exploratory asset and these transactions represent another important step in it's Divestment Program outlined in the 2013-2017 Business and Management Plan.