April 6, 2018 / 12:33 PM / a year ago

Brazil's Petrobras advances sale of rights to shallow-water oil fields

SAO PAULO, April 6 (Reuters) - State-run oil company Petroleo Brasileiro SA said it had initiated the binding phase of the process to sell exploration, development and production rights related to three shallow-water oil fields in Brazil.

In a securities filing on Friday, the company said investors who qualified to bid in the initial phase of the process will receive instructions to carry out due diligence as well as guidelines for sending binding proposals.

The Pargo, Sergipe and Merluza fields are respectively located in Rio de Janeiro, Sergipe and São Paulo, the filing said. (Reporting by Ana Mano; Editing by Bernadette Baum)

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