Brazilian oil company Petrobras has begun the non-binding phase of the sale of Petrobras America Inc.’s 20% interest in MP Gulf of Mexico, LLC (MPGoM), located in Texas. MPGoM owns offshore fields in the Gulf of Mexico. Petrobras announced this divestment in October 2021.
Murphy Exploration & Production Company owns the other 80% of the MPGoM joint venture, which was created in October 2018 with the contribution from both companies of all their oil and natural gas assets in production in the Gulf of Mexico. The JV has an operator or non-operator interest in 14 offshore fields in the Gulf of Mexico. Petrobras’ share of production from the fields in 2021 was 10,400 bpd of oil equivalent.
Potential buyers qualified to bid will receive information, including guidelines for the preparation and submission of non-binding proposals.
