Petrobras (PBR) said Thursday that it executed three asset sale agreements worth $10.3 billion, bringing its total asset sales for the year to $11.3 billion.

The agreements are for the sale of 90% of Petrobras’ stake in the TAG gas pipeline network to the group formed by Engie and Caisse de Depot et Placement du Quebec for $8.6 billion, its 50% working interest in the Tartaruga Verde field Module III of Espadarte field to a Petronas unit for $1.29 billion, and its full stake in 34 onshore production fields to a Petroreconcavo subsidiary for $384.2 million.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

“Continued portfolio management contributes to improving capital allocation, thereby increasing value creation for our shareholders, as well as making it possible to reduce the company’s indebtedness and cost of capital,” said Petrobras CEO Roberto Castello Branco in a statement.