Petrobras is looking to sell stakes in some of the 175 blocks it holds in the US sector of the Gulf of Mexico, Orlando Azevedo, head of the company’s Houston-based subsidiary, told O Estado de Sao Paulo newspaper in an interview.
Azevedo did not give any details about the timing or
structure of the sale, but he suggested that the start-up of production on the
Cascade-Chinook development in February gave the company a healthy impetus to
cash in on some of the value of its assets.
Petrobras plans to raise $13.6 billion from asset sales
and cost cuts by 2015. This strategy reflects the weight of the investments
needed to put Brazil’s pre-salt discoveries into production.
The Petrobras assets in the Gulf of Mexico include 126
exploration leases and five field development permits.
The Gulf of Mexico accounts for about $4
billion out of a total overseas investment plan of $11 billion through 2015.