(Petrobras, 21.Dec.2023) — Petrobras, following up on the releases disclosed on 09/08/2021, 10/27/2021 and 03/29/2023, informs that it has signed today, with Enauta Energia S.A., contracts for the assignment of its entire stake in the Uruguá and Tambaú fields, in deep waters in the post-salt, located in the Santos Basin.
The amount to be received by Petrobras from the operation is up to US$35mn, of which (a) US$3mn will be paid on today’s date, (b) US$7mn will be paid at the closing of the transaction and (c) up to US$25mn in contingent payments, depending on future Brent prices and events related to the development of the assets.
The decision to divest these fields is the result of a process of active management of Petrobras’ portfolio, through which the various assets are constantly evaluated in line with the company’s most current strategic guidelines.
The Uruguá and Tambaú fields account for less than 1% of the production operated by Petrobras in the Santos Basin, presenting low strategic adherence to the company’s portfolio and with the charter contract expected to end in Jan. 2024, and consequently the unit will be decommissioned. In view of the progress of the transaction, this contract will be extended and the new operator will evaluate the appropriate alternatives.
The transfer of the assets to a new operator represents an alternative to their decommissioning, with the prospect of extending their productive life, while at the same time enabling Petrobras to direct its investments in the E&P segment towards assets that are more in line with the company’s strategy, which involves, among other things, the increasing decarbonization of operations.
Petrobras’ own employees involved in the Uruguá and Tambaú operations will be relocated to other company operations in the Santos Basin Business Unit.
This disclosure is in accordance with Petrobras’ internal rules and with the provisions of the special procedure for the assignment of rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.
About the Uruguá and Tambaú fields
The Uruguá and Tambaú fields belong to the BS-500 concession, which was acquired through the National Petroleum, Natural Gas and Biofuels Agency‘s Zero Round. The fields are located in the northern portion of the Santos Basin, between 140 and 160km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,000 to 1,500m. The average production of the fields up to September 2023 was approximately 5.4 thousand bpd of oil and 353 thousand m3/day of gas. Petrobras holds a 100% stake in both fields, which produce through the FPSO Cidade de Santos, a unit chartered from Modec.
Enauta is a wholly-owned subsidiary of Enauta Participações S.A., a publicly traded oil and gas company listed on B3. Enauta operates the Atlanta field, located in the Santos Basin, and began producing oil in 2018. In addition, the company holds a 45% stake in the Manati field (operated by Petrobras) in Bahia, as well as several exploratory assets in Brazil.