Brazil’s Petrobras to spend $6 billion through 2024 to dismantle platforms, pipelines and wells

RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil producer Petroleo Brasileiro SA plans to spend $6 billion through 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells, the company said in a securities filing.

In a presentation filed to the securities regulator, Petrobras, as the company is known, said it predicts proceeds of $1 billion from divestments in 2020, after receiving $14.4 billion from asset sales in 2019.

(Reporting by Sabrina Valle; Editing by Sandra Maler)