The brazilian HRT is negotiating with the Norwegian company BW Offshore to sell part of its 60 percent slice of the Polvo field, in the Campos Basin, acquired from British Petroleum, the brazilian company said in a statement yesterday (12).

In answering the question BM&FBovespa after publication of report in Valor Economico Newspaper, reported that the company "has been conducting negotiations with some companies in relation to various business opportunities, including, among others, the sale of participation in the assets".

According to HRT, the BWO has signed a letter of intent to acquire 30 percent of the Polvo field. However, the definitive agreements are subject to a due diligence process to be conducted by BWO and regulatory, and governmental approvals of the Board of Directors.

The sale of the stake in Campo de Polvo BP for HRT must be approved by the Brazilian Petroleum Agency (ANP).

"We recognize that we are currently in commercial discussions with BP and BWO to reach an agreement on the documents related to the transition process", said HRT.

"The BWO owns and FPSO (platform) Polvo operator, through a firm contract to the third quarter of 2014, with an option to renew until the third quarter of 2022".

HRT also said that discussions are confidential and that , where it results in a binding definitive agreement, the details will be disclosed to the market .

The biodiesel auctions are designed to meet the Resolution No. 06 of the National Energy Policy Council ( CNPE ) laying in the 5 % minimum mandatory addition of biodiesel to diesel fuel sold to the final consumer ( B5 ) percentage .

The 34th Auction ( L34 ) aims to ensure the supply of biodiesel in the domestic market during the period from January to February 2014 , according to guidelines of Ordinance No. 476, dated 15/08/12 , the Ministry of Mines and Energy , and criteria established in Public Notice of Public Auction No. 078/13-ANP.

The volumes will be validated only after approval by the board of ANP.