Petrobras S.A. is selling 98 onshore and offshore oil and gas fields in Brazil, between 2016 and 2017.

The Brazilian oil company, Petrobras S.A., is selling 98 oil and gas fields, 95 onshore and three shallow water, plus six onshore exploration blocks in five states of Brazil. This sale of assets makes up the Topaz Project.
Topaz is a pilot project in a much larger plan of divestments that should be implemented in the coming years to reduce Petrobras’s debt.
It involves oil and gas fields with 257.3 million boe in 3P reserves. These fields currently produce 35,400 bbl/d of oil and 1.4 million
m3/d of gas.
Thirty-eight of these oil and gas fields are located in the state of Rio Grande do Norte, thirty in the state of Espirito Santo, sixteen in the state of Bahia, twelve in the state of Sergipe and two in the state of Ceará.
In the state of Rio Grande do Norte are situated three shallow water fields with water depths of 5 meters.
The six onshore exploration blocks are located in the state of Espirito Santo.
The 98 petroleum fields are grouped into 10 production centers, which may be sold individually.
There is also the option to purchase and sale of oil and gas between the parties, as well as provisions of some services.
Petrobras plans to sell 100% of its interest in all fields.