Brazil’s Petrobras finalizes Rio Ventura oilfield sale to 3R

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People walk in front of the Brazil’s state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. Picture taken October 16, 2019. REUTERS/Sergio Moraes/File Photo

RIO DE JANEIRO, July 14 (Reuters) – Brazil’s Petrobras has finalized the sale of its Polo Rio Ventura onshore oil assets to a subsidiary of 3R Petroleum Oleo e Gas SA (RRRP3.SA), the companies said in separate securities filings on Wednesday.

Petroleo Brasileiro SA (PETR4.SA), as the firm is formally known, had agreed to the sale in principle last August. When all past and future payments are considered, the value of the transaction is $94.2 million, with the final price subject to changes, depending on oil prices and other factors, 3R said.

Reporting by Gram Slattery; editing by Stephen Eisenhammer

Our Standards: The Thomson Reuters Trust Principles.

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