Petrobras Has No Interest in Farming out Buzios

By Roberto Samora
Friday, November 8, 2019

Brazil's state-run oil firm Petrobras, which dominated this week's disappointing offshore oil auctions, has no interest in farming out its Buzios block to be operated by another firm, its head of exploration and production said on Friday.

Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, leaving state-run Petroleo Brasileiro SA as the main winner of the quickly criticized auctions.

Despite the high prices paid at the auctions, Petrobras will keep up its debt-cutting goals, Petrobras' chief financial officer Andrea de Almeida said on the same investor call.

The company was 100% certain it had made the right decision, de Almeida said.


(Writing by Gabriel Stargardter; Editing by Jan Harvey)

Categories: Energy Deepwater FPSO Oil Production South America

Related Stories

Italian Business Lobby Calls to Speed up Roll-Out of Renewables

ABB to Modernize Automation Systems on Buzzard Platform off UK

Van Oord Wraps Up Cable Installation at Windanker Offshore Wind Farm

Current News

Equinor Scales Back Renewable Capacity Target

Italian Business Lobby Calls to Speed up Roll-Out of Renewables

ABL Group to Rebrand as Aqualis

MOL, Repsol and TPAO Advance Deepwater Libya Exploration Project

Subscribe for OE Digital E‑News