Petrobras accepts Karoon offer for Baúna field

petrobras

Petróleo Brasileiro S.A., Brazil’s state oil company, Petrobras said it will accept an offer from Karoon Petróleo & Gás Ltda., to sell its stakes in Baúna field.

Petrobras said in a statement that the offer presented the best proposal.

The company said: “That the transaction is still under approval phase by Petrobras’ governance bodies and that the subsequent phases will be disclosed to the market in accordance with the company’s Divestment Methodology.

“This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.”