RIO DE JANEIRO, July 5 (Reuters) - Brazil's state-run

oil firm Petrobras is weighing options for its Polo

Bahia onshore oil fields, including a potential sale, Chief

Executive Magda Chambriard said on Saturday, adding that any

decision will prioritize returns and shareholder interests.

The Polo Bahia hub, consisting of some 28 onshore fields,

was previously listed for sale under former President Jair

Bolsonaro's divestment strategy. President Luiz Inacio Lula da

Silva pulled it off the market after he took office in 2023 and

ended Bolsonaro's divestment strategy.

Chambriard said the current operation at the Polo Bahia

produces very little oil but requires significant effort.

Extracting from those onshore fields was more viable when oil

prices were higher, at $90-$100 per barrel, than it is at the

current $65 per barrel, she added.

"This is on our table and we haven't decided yet what we're

going to do, whether to keep it with us, outsource the operation

or transfer the asset. It's on the table, we're studying it and

we're going to do what's best and most profitable for us and our

shareholders," Chambriard said during the Strategic Forum for

the Brazil-China Naval Industry in Rio de Janeiro.

Asked if the company could replicate this analysis for its

Urucu operation in Amazonas state, Chambriard declined to

comment on potential divestment plans, and said Urucu produces

"the best oil, the most valued."

Also on Saturday, Brazilian and Chinese shipyards signed

memorandums of understanding to foster technological and

commercial collaborations, aligning with increased demand for

Petrobras vessels.