Petrobas has sold off assets in Argentina in a $101million deal with Compania General de Combustibles.
The company will sell all its assets in the Austral Basin, in the Santa Cruz province and is the first disposal of a Petrobas asset under the 2015-2016 divestment plan.
It will see a number of assets totalling $13.7billion sold off.
The sale will be accounted in the first quarter of the 2015 results with an estimated impact of $65million in net income.
Last month the Brazilian state-run oil company appointed a new chairman.
The company named Luciano Coutinho, head of the country’s state development bank BNDES, as a replacement for Guido Mantega.
Coutinho has been a board member of Petrobas since 2008 and has led BNDES for almost eight years.
Petrobas has been hit by the widening corruption scandal surrounding the company.
At least $800million was paid in bribes and other funds by the nation’s biggest construction and engineering firms in exchange for inflated Petrobras contracts.