Brazilian oil company Petrobras has started the process to sell its oil and gas exploration, development and production assets in shallow water fields in the states of Ceará and Sergipe.

Nine concessions are being offered, which had an average production of 13 thousand barrels of oil equivalent per day in 2015, representing 0.5% of Petrobras ‘total production.

The fields were grouped into production complexes, with integrated installations, in order to provide the new concessionaires with full operating conditions. In Sergipe, Petrobras is selling Sergipe Caioba, Camorim, Dourado, Guaricema and Tatuí concessions. In Ceará, concessions Curimã, Espada, Atum and Xaréu are being offered.

The process will be conducted in a competitive manner and Petrobras will assess the terms and conditions of the received proposals, the company said.

The sale of these assets is part of Petrobras’ divestment strategy, whose goals and objectives are defined in the 2015-19 Business and Management Plan.