Brazilian giant Petrobras is understood to be advanced in a process with an unknown buyer to sell off its stake in the Chevron-operated St Malo field in the deep-water US Gulf of Mexico.
Upstream confirmed the St Malo talks were ongoing and a finalised agreement is said to be imminent.
St Malo - one of the two main fields incorporated in the Jack-St Malo megaproject in the US Gulf's Lower Tertiary play - was one of five "advanced" asset sales exempted from an injunction placed on Petrobras' sales process by Brazil's federal audit tribunal (TCU) this week.
The five deals spared by the TCU are expected to be signed off within...
