Brazil’s Petrobras on Monday started the binding phase to sell its subsidiary 20% stake in Texas-based MP Gulf of Mexico LLC, which owns offshore fields in the region.
Potential buyers classified for this phase will receive a letter with instructions on the divestment process, Petrobras said in a securities filing.
Murphy Exploration & Production Company owns the remaining 80% stake in MP Gulf of Mexico.
Source: Reuters (Reporting by Carolina Pulice and Peter Frontini)