Brazilian state-controlled Petróleo Brasileiro SA - Petrobras is nearing the sale of two oilfields in a process that could bring in around $1 billion, according to a May 28 report from Reuters.

Petrobras has set June 5 as the deadline for the submission of final bidding offers for the Pampo and Enchova oilfields off the coast of Rio de Janeiro, sources told Reuters.

Trident Energy Management Ltd. is the top contender, but Petrobras has invited other firms such as Brazil's Petro Rio SA and a consortium of EIG Global Energy Partners LLC and Brazil's Ouro Preto Óleo e Gás S.A. to submit a final bid, the sources said.