Petrobras Concludes TOR For Stake In Lapa Field

(Petrobras, 1.Sep.2021) — Petrobras, following up on the release disclosed on 21 December 2018, informs that it has finalized the transfer of rights of its 10% interest in the Lapa field to TotalEnergies.

The operation, which also involves the assignment of the totality of the interest held by Petrobras Netherlands B.V. (PNBV) in Lapa Oil & Gas B.V., a company incorporated in the Netherlands, was concluded with the payment of $49.4mn to Petrobras, already with the adjustments foreseen in the contract. This transaction represents another step in the strategic partnership between Petrobras and TotalEnergies and is aligned with the strategy of portfolio optimization and the improvement of the Petrobras’ capital allocation, aiming at value maximization.

About Lapa field

The Lapa field (BM-S-9A block) is located in the Santos Basin pre-salt. Its average production in the first half of 2021 was 50.7 thousand boe/day, of which 5.07 thousand boe/day is Petrobras’ share. With the closing of this transaction, Petrobras will have no more stakes in Lapa, while TotalEnergies, which is already the field operator, will hold 45%. The other partners in the field are Shell Brasil Petróleo (30%) and Repsol Sinopec Brasil (25%).