BRASILIA (Reuters) - Petroleo Brasileiro SA (SA:PETR4) said on Wednesday it agreed with France's Total SA (PA:TOTF) to sell $2.2 billion (£1.7 billion) worth of assets that include stakes in oilfields and two thermal power stations.
Petrobras, as the company is known, will receive $1.6 billion in cash when the agreement its closed and the rest over the length of the partnership with Total. The agreement also gives Petrobras the option of acquiring a stake in a Gulf of Mexico field owned by Total and Exxon Mobil Corp (NYSE:XOM).