Brazil's Petrobras to sell Polo Rio Ventura onshore fields to 3R Petroleum for $94.2 million - filing

FILE PHOTO: A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo

BRASILIA (Reuters) - Brazil’s state-owned oil giant Petrobras said on Friday it has agreed to sell its entire stake in eight onshore fields at Polo Rio Ventura in the state of Bahia to 3R Petroleum e Participacoes for $94.2 million.

According to a securities filing, $3.8 million was paid on Friday, $31.2 million will be paid when the transaction is closed, with $16 million coming 30 months after the deal and a further $43.2 million in contingent payments.

Reporting by Jamie McGeever; Editing by Sandra Maler