Petrobras Updates on São Tomé and Príncipe Exploratory Blocks

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(Petrobras, 8.Feb.2024) — Petrobras, further to the announcement made on 27/12/2023, informs that it has concluded the acquisition of stakes in the 3 exploratory blocks 10, 11 and 13, in São Tomé and Príncipe, Africa, and has signed amendments to the production sharing contracts and Joint Operating Agreements and became part of the consortia for these blocks.

Petrobras thus acquired a 45% stake in interest in blocks 10 and 13 and a 25% interest in block 11, with the consortia to have the following composition:

– Block 10: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)

– Block 11: Shell, operator (40%), Petrobras (25%), Galp (20%) and ANP-STP (15%)

– Block 13: Shell, operator (40%), Petrobras (45%) and ANP-STP (15%)

The operation marks the resumption of exploratory operations on the African continent, with the aim of diversifying the portfolio, and is in line with the company’s long-term strategy, aimed at restoring oil and gas reserves by exploring new frontiers and working in partnership.

The acquisition of the blocks in São Tomé and Príncipe complied with all the company’s internal governance procedures and is in line with the 2024-2028+ Strategic Plan (PE 2024-28+).

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