Japanese firms vie for $3 billion Brazil oilfield

Sources in Japan said on Wednesday Brazil's state energy company, Petrobras, is auctioning an oil field of heavy crude to raise up to $3 billion, but Petrobras said it was only analysing options.
One source, who spoke on condition of anonymity, told Reuters the auction by Petroleo Brasileiro SA (Petrobras) had entered the final stage and the oilfield carries an estimated value of $2 billion to $3 billion. Three other sources close to the process told Reuters that Petrobras had shortlisted Mitsubishi Corp, Mitsui & Co and Sumitomo Corp for the Brazilian offshore heavy oil block called Jubarte, which has yet to be developed.
But a Petrobras spokesman in Rio de Janeiro took issue with the sources, saying there was no firm decision on foreign participation in the project, which should start pumping crude in 2010.
"Petrobras is analysing alternatives for the development of the second phase of Jubarte project. There has been no definition on participation of other companies, on partnership of any sort," he said.