Petrobras on Divestment of Petrobras Operaciones S.A.

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(Petrobras, 14.Oct.2022) — Petrobras has started the opportunity disclosure stage (teaser), regarding the sale of 100% of its stake in Petrobras Operaciones S.A. (POSA), Petrobras’ wholly owned subsidiary in Argentina, which holds a 33.6% stake in the Rio Neuquén Field.

The teaser, which contains the key information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on on Petrobras’ Investor Relations website:

The main subsequent stages of the project will be informed to the market in due course.

This disclosure is in accordance with Petrobras’ divestment guidelines.

This operation is in line with the company’s portfolio optimization strategy and capital allocation improvement, aiming to maximize value and higher return to society.

About POSA

POSA is a company established in Argentina, where it holds a 33.6% stake in the Rio Neuquén field, located in the provinces of Rio Neuquén and Rio Negro, this being its only asset. Petrobras holds stakes in POSA through its subsidiaries PIB BV (Petrobras Internacional Braspetro B.V.), with 95%, and PVIE (Petrobras Valores Internacionais de España), with 5%.

Along with POSA, in the Rio Neuquén asset, YPF S.A., the field operator, with a 33.3% stake, and Pampa Energia, with 33.1%, are also partners. Rio Neuquén’s production comes mainly from unconventional reservoirs (tight gas) of the Punta Rosada and Lajas formations. In September 2022, POSA’s production was 1.52 MM m³/d of natural gas and 0.7 thousand bpd of oil, condensate and gasoline.


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