Petrobras Concludes Sale of E&P Assets in the Paraná Basin

(Petrobras, 20.Apr.2022) — Petrobras, following up on the release disclosed on 12/20/2021 and 12/30/2021, informs that it has today concluded the sale to the company Ubuntu Engenharia e Serviços Ltda of its total stake in blocks PAR-T-198 and PAR-T-218, located in the Paraná Basin.

After compliance with all the precedent conditions and approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the transaction was concluded with the payment of US$6.3 thousand to Petrobras. The amount received at the closing adds to the amount of US$56.7 thousand paid to Petrobras when the sale contracts were signed, totaling an amount of US$63 thousand.

This disclosure is in accordance with Petrobras’ internal rules and with the provisions of the special procedure for the assignment of rights of exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree No. 9,355/2018.

This operation is aligned with the portfolio management strategy and the improved allocation of the company’s capital, aiming to maximize value and greater return to society. Petrobras is increasingly concentrating its resources on deep and ultradeepwater assets, where it has shown great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About the Paraná Basin blocks

PAR-T-198 and PAR-T-218 blocks, located in the far west of the state of São Paulo, were acquired in the ANP’s 12th Bidding Round in 2013 and are currently in their 1st Exploratory Period and with Minimum Exploratory Program (MEP) commitments already fully met. Petrobras held 100% interest in both blocks.

About Ubuntu

Ubuntu is a limited liability company, domiciled in Brazil, engaged in oil and natural gas exploration, production and extraction activities. Currently, Ubuntu operates the Urutau, Cardeal and Colibri fields, located in Rio Grande do Norte; the Rio Mariricu field, in Espírito Santo; and the Dó-Re-Mi field in Sergipe.

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