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Petrobras closes stake sale in 3 fields to Perenco

Petróleo Brasileiro SA completed the sale of its stakes and operatorship in the Pargo, Carapeba and Vermelho offshore fields to Perenco Petróleo e Gás do Brasil Ltda. for a total of $398 million. The assets produce about 9,000 barrels per day.

Perenco paid around $324 million, including adjustments, at deal closing, according to an Oct. 8 securities filing from Petrobras.

Petrobras earlier received $74 million from Perenco during the signing of the deal.

The fields are located in shallow waters off the coast of the state of Rio de Janeiro.

The Brazilian state-controlled company is selling assets to reduce debt and streamline its portfolio.