Petrobras To Sale Onshore Lagoa Parda Cluster Fields, Start Binding Phase

(Petrobras, 1.Mar.2019) — Petrobras, following up on the release dated 12/10/2018, announces the beginning of the binding phase related to the sale of its entire equity share in three onshore production fields (Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha), located in the state of Espírito Santo, Brazil, jointly designated as Lagoa Parda Cluster.

At this stage of the project, process letters are issued to qualified interested parties with detailed instructions about the divestment process, including guidelines to conduct due diligence and submit binding proposals.

This disclosure to the market complies with Petrobras' divestment methodology and is aligned with the provisions of the special procedure for the sale of the rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.

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