Petrobras Starts Bidding Phase for Stake in Potiguar Basin

(Petrobras, 20.Sep.2022) — Petrobras, following up on the releases disclosed on 16 August 2022 and 8 September 2022, informs the beginning of the binding phase regarding the sale of 40% of its stake in the BM-POT-17 exploratory concessions, in which the Pitu well Discovery Assessment Plan is being developed (Blocks POT-M-853 and POT-M-855), and the POT-M-762_R15 Concession (Block POT-M-762), located in deep waters in the Potiguar Basin – Equatorial Margin – off the coast of Rio Grande do Norte. Petrobras currently holds a 100% stake in these concessions and will continue as operator of the partnership after the sale.

Potential buyers qualified for this phase will receive a Process Letter with detailed instructions about the process, including guidelines for due diligence and for submitting binding proposals.

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, set forth in Decree 9,355/2018.

The search for partnership in these assets is aligned with the portfolio management strategy and the improvement of the company’s capital allocation, aiming to maximize value.

About the assets POT-M-853 and POT-M-855

Blocks: the exploratory blocks were acquired in the 7th Bidding Round of the National Petroleum Agency (ANP) in 2006. Petrobras currently holds a 100% stake and is conducting the Discovery Assessment Plan for the Pitu well, with a firm commitment to drill an exploratory well (Pitu Oeste well) scheduled for 2023.

POT-M-762 Block: the exploratory block was acquired in the 15th ANP Bidding Round in 2018 and Petrobras holds a 100% stake. Petrobras plans to drill the Anhangá well (Anhangá Exploratory Opportunity) between 2023 and 2024.