Petrobras denied it is considering selling a stake in the Libra field, located in the Santos Basin, bought in October 2013 at the 1st Round of Bidding for the Pre-Salt area. The company dispelled reports it is negotiating the sale with India-based ONGC Videsh state-run oil and gas company.

In a statement, Petrobras said that it approved a corporate divestment plan equivalent to $15.1 billion for 2015-2016, as it reported on June 29. Because of this plan, Petrobras has been considering divestment opportunities in a range of areas, “but is not considering at this time the sale of interest in the area of Libra,” the note read.

The company said the divestment portfolio “is dynamic and the accomplishment of these transactions depends on negotiating and market conditions.”

Petrobras’s stake in Libra (40%) is operated by a consortium of four companies: UK-Dutch company Shell (20%), France's Total (20%) and China’s CNPC (10%) and CNOOC (10%).

Back then, the company estimated that Libra was one of the most promising oil accumulations in the pre-salt area, and its auction was strategic and in line with the principles of Petrobras’s 2013-2017 Business and Management Plan.