Brazil's Petrobras begins process of selling stake in onshore natural gas fields

BRASILIA: Brazil's state-owned oil giant Petrobras has started the process of selling off the so-called Tucano Sul Polo block of four onshore natural gas fields and treatment facilities, the company said in a filing on Monday.

Petroleo Brasileiro SA, as the energy firm is formally known, intends to sell all of its 100pc stakes in the four fields of Conceição, Fazenda Matinha, Fazenda Santa Rosa and Querera in the northeastern state of Bahia, according to the company's statement.

The transaction is in line with the company's strategy of "optimizing" its portfolio, Petrobras added.