Petrobras Kicks off Gulf of Mexico Asset Sales

Brazilian state oil company looks to divest interests in the GOM.

Lucius spar.
Lucius spar.

Petrobras has begun an asset sale program in the Gulf of Mexico, in line with the company’s strategy of debt reduction and pivot toward Brazilian deepwater production.

The package for sale includes the company’s 20% stake in MP Gulf of Mexico (MPGoM) which holds ownership stakes in 15 fields in partnership with Murphy Oil. In addition to partnership-operated fields, MPGoM owns nonoperated interests in Occidental’s Lucius, Kosmos’ Kodiak, Shell’s Habanero, and Chevron’s St. Malo fields. During the first half of 2021, Petrobras’ share of production was 11,300 BOE/D.