Petrobras asks for E&P bids

Petrobras asks for E&P bids

M&A Equity Corporate & Sovereign Strategy Energy Brazil Europe

Brazil's state-owned oil company Petrobras said it asked for binding bids for the exploratory blocks in the BM-P-2 concession in the Pelotas Basin off the coast of Rio Grande do Sul. Petrobras and France's Total each own 50% of BM-P-2, but they could sell between 30% and 65% of the concession, while leaving Petrobras as the operator, the Brazilian company said in a statement on Monday. It also said it will send bidding instructions to eligible bidders with at least BRL38 million ($7.63 million)

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