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Petrobras Weighs Selling Onshore Cluster on Lower Oil Prices
Petroleo Brasileiro SA is considering the sale of its onshore operations in Brazil’s northeastern Bahia state, Chief Executive Officer Magda Chambriard said.
Producing oil and gas on the so-called Polo Bahia Terra is too expensive given that it yields less than a single well on the pre-salt, a deep-water region in the Atlantic that accounts for more than 70% of Brazil’s output, Chambriard told journalists on the sidelines of Brazil-China shipbuilding forum.