Brazil's Petrobras starts process to sell exploration, production assets

RIO DE JANEIRO: Brazilian state-run oil company Petroleo Brasileiro, or Petrobras, said in a statement on Monday it had begun the process of selling exploration and production assets in the state of Espirito Santo.

The company, which is in the midst of selling assets to lower debt, said it was putting up for sale assets in the Peroa and Cangoa areas, as well as in the BM-ES-21 concession.