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By Reuters Staff
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BRASILIA (Reuters) – Brazil’s state-owned oil giant Petrobras said on Friday it has agreed to sell its entire stake in eight onshore fields at Polo Rio Ventura in the state of Bahia to 3R Petroleum e Participacoes for $94.2 million.
According to a securities filing, $3.8 million was paid on Friday, $31.2 million will be paid when the transaction is closed, with $16 million coming 30 months after the deal and a further $43.2 million in contingent payments.
Reporting by Jamie McGeever; Editing by Sandra Maler
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