Brazilian state-controlled oil company Petroleo Brasileiro SA has started the process to sell its 51% stake in the Brazil-Bolivia gas pipeline as part of a divestment program, the company said in a securities filing on Dec. 23.

Petrobras, as the Rio de Janeiro-based company is known, is selling its stake in the Bolivia pipeline, called Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG), along with its 25% stake in Transportadora Sulbrasileira de Gas SA (TSB), a pipeline network in southern Brazil.

In a separate filing, Petrobras also announced the binding phase of the process to sell 26 concessions in the Potiguar basin, 23 of which are onshore and three in shallow waters.

The asset sales are part of the company’s strategy to cut debt and focus on deepwater production. Petrobras is also reducing its presence in Brazil’s natural gas infrastructure, a near monopoly in Brazil until five years ago.

TBG runs a natural gas transport network in southern, southeastern and midwest Brazil. The Brazil-Bolivia gas pipeline covers 2,593 km, with capacity of up to 30 million cubic meters of gas.