Uncategorized

Petrobras Divestment project of shallow water assets

Rio de Janeiro, January 23, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that a Regional Federal Court issued a decision on January 18, 2017 to grant suspensive effect to Petrobras’ appeal in the divestment project regarding the transfer of rights in a set of shallow water fields, located in the states of Sergipe and Ceará, as announced on July 04, 2016.

With the favorable decision of the Court, Petrobras may continue with this divestment project. The company, however, will only be able to sign an agreement after the Brazilian Federal Accounting Court (TCU) merit decision regarding the required adjustments requested by this authority over Petrobras’ divestment process.

Petrobras reiterates that is working on improving its divestment processes with the purpose of adjusting them to TCU’s determinations and expects to conclude this reformulation, in the shortest time possible, with the appreciation of that Court, without changing Petrobras’ divestments and partnerships targets included in the Strategic Plan/ 2017-2021 Business and Management Plan.

Other facts deemed relevant will be timely communicated to the market.

Categories: Uncategorized

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