Petrobras Discloses Binding Phase For Onshore Fields

(Petrobras, 13.Nov.2019) — Petrobras, following up on the release dated 09/13/2019, reports on the beginning of the binding phase regarding the sale of its stakes in two onshore concessions, including offloading facilities named Cupiúba and Carapanaúba Cluster, located in the state of Amazonas.

Qualified parties for this phase will receive invitation letters with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure complies with Petrobras’ divestment guidelines and is aligned with the provisions of the special procedure for assignment of rights on 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 and the improvement of the company’s capital allocation, aiming at generating value for our shareholders.

About Cupiúba and Carapanaúba Cluster

This cluster comprises the Cupiúba and Carapanaúba fields and had an average production in 2018 of about 81 bpd of oil and 82,000 m3/day of gas. Petrobras is the operator with 100% stake in these concessions.

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