Petroleo Brasileiro SA (PETR4) is in talks to buy land in Rio de Janeiro to expand its headquarters, Veja magazine said in its Radar column, without saying where it got the information.

Petrobras, as Brazil’s state-controlled oil producer is known, may pay about 336 million reais ($166 million) for the site, the Sao Paulo-based magazine said.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net.

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net.