Petrobras About Expression Of Interest On E&P Assets

(Petrobras, 23.Dec.2019) — Petrobras, following up on the release disclosed on 12/16/2019, referring to the sale of its interest in the concession BM-P-2, located in the Pelotas Basin, reports that it has extended until 01/15/2020 the notification deadline for companies to express their interest on the opportunity. There is no prejudice for the companies that have already expressed their interest.

The deadline for sending the signed Confidentiality Agreement and other documents provided for in the teaser was postponed to 01/24/2020. The adjusted teaser is available on Petrobras website: https://www.investidorpetrobras.com.br/pt/resultados-e-comunicados/teasers.

Subsequent stages of the project will be reported to the market in due course. 

This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

About the exploratory blocks

The BM-P-2 Concession is located in the Pelotas Basin deep waters , in water depths between 1,000 m and 2,000 m, and was acquired by Petrobras (100% interest) in 2004 in the 6th Bidding Round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Total became a partner with the acquisition of a 50% stake in 2013.  Currently, the concession contemplates the exploratory blocks P-M-1269, P-M-1271, P-M-1351 and P-M-1353 and is strategically positioned in relation to the 18th ANP Bidding Round, scheduled for 2021, in which blocks from the Pelotas Basin shall be selected. This concession presents a reduced exploratory commitment with the potential to prove significant volumes and establish a position in a new exploratory frontier. 

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