Petrobras Inks Deal with ANP

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(Petrobras, 6.Feb.2024) — Petrobras, following up on the release disclosed on 26 Apr. 2023, informs that it has signed an agreement with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to terminate the lawsuit involving the recalculation of government take (royalties and special participation) related to oil production in the Jubarte Field, in the periods from Aug. 2009 to Feb. 2011 and Dec. 2012 to Feb. 2015. This agreement ends a dispute that has been under discussion since Feb. 2016.

The agreement involves the payment of R$832.4mn, updated to Dec. 2023, to be adjusted up to the date of payment of the initial installment. The amounts of the agreement will be paid in an initial installment of 35% and the balance in 48 installments adjusted by the SELIC rate.

The agreement will be submitted for ratification by the 23rd Federal Court of the Judicial Section of Rio de Janeiro, by means of a joint petition signed by Petrobras and ANP. Under the terms of the agreement, the initial installment will be paid within 30 days of the court ratifying the agreement.

These amounts are accrued in the company’s third quarter 2023 financial statements.

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