The agreement with the Brazilian independent is subject to approval from the country's National Hydrocarbons Agency, or ANH.
The news confirms an earlier Upstream report that the state-owned Brazilian oil company was in advanced talks to ditch the property, home of the Atlanta and Olivia heavy-oil fields, as part of its drive to optimise pre-salt light oil production.
Queiroz Galvao Exploration and Production will remain operator of the concession with a 30% stake, while Barra Energia will keep its stake of 30%, according to the Petrobras document.
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