Monday 13 July 2020

Petrobras informs that it signed with OP Pescada Óleo e Gás Ltda., a wholly-owned subsidiary of Ouro Preto Óleo e Gás S.A., an agreement for the sale of its entire stake in the Pescada, Arabaiana, and Dentão fields located in shallow waters of the Potiguar Basin (Pescada Cluster), in the state of Rio Grande do Norte.

The sale value is US$ 1.5 million, to be paid in two installments: (a) US$ 300 thousand at signing of the transaction; and (b) US$ 1.2 million at closing of the transaction, without considering the adjustments due.

The closing of the transaction is subject to the fulfillment of previous conditions, such as the approval by the Administrative Council of Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

This disclosure complies with the Petrobras' divestment guidelines and with the provisions of the special procedure for assignment of rights to exploration, development and production of  oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This transaction is in line with the portfolio optimization strategy and the improvement of the company’s capital allocation, increasingly concentrating its resources in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years