Petrobras on Receiving Last Installment of the Block BM-S-8 Sale

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(Peterobras, 1.Feb.2022) — Petrobras, following up on the releases disclosed on 22 November 2016, 21 March 2018 and 9 December 2021, informs that it received from Equinor Brasil Energia Ltda. the amount of $475mn, equivalent to half of the third installment related to the sale of its stake in the exploratory block BM-S-8, where is located the Bacalhau field (former Carcará area). The remaining amount of $475mn will be paid on 10 February 2022.

This receipt was conditioned to the approval of the Production Individualization Agreement (AIP) for the Bacalhau and Norte de Bacalhau fields by the National Petroleum, Natural Gas, and Biofuels Agency (ANP), which occurred on 9 December 2021.

Petrobras sold its total stake (66%) in block BM-S-08 to Equinor, for $2.5bn. At the closing of the operation, the company received $1.25bn, and at the signing of the sharing contract for the Norte de Bacalhau block, it received $0.3bn, totaling $1.55bn.

The result of the third installment will be recognized in the financial statements for the 4th quarter of 2021.

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