Petrobras Expands On ANP Agreement

(Petrobras, 22.Oct.2021) — Petrobras informs that, on 14 October 2021, its Executive Board analyzed and approved the submission to the Board of Directors of a proposal to enter into an Agreement between Petrobras and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) related to royalties on the operation of the Shale  Industrialization Unit (SIX), located in São  Mateus  do Sul/PR. The terms of the agreement were approved by the  ANP’s collegiate board  and will still be analyzed by Petrobras’ Board of Directors.

The agreement proposal involves an installment payment of R$559mn (amount based on June/21, to be updated until the agreement is signed), of which R$302mn have already been provisioned in the 2Q21 financial statements.

The beginning of the payment by the company will occur after the signing of the Agreement and will result in  the  termination of all legal and administrative proceedings  related to the  collection of royalties  and administrative fines arising from the mining of oil shale performed at SIX, as well as in the execution of a concession agreement between Petrobras and ANP to discipline the research and mining of shale at SIX. The terms of the agreement, as well as the  draft  concession agreement, will be submitted to public consultation and hearing by the ANP, as a measure of transparency, legitimacy and legal security.

The  decision to adhere to the Agreement is in line with the risk management policy associated with contingency management and with the strategy of generating value through the negotiation of amounts in dispute.