Petrobras Sale of Concessions in the Deepwater Sergipe Basin: Start of the binding phase

Rio de Janeiro, July 20, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the material fact of 05/23/2018 , informs the beginning of the binding phase related to the partial sale, without transfer of operatorship, of its exploration, development and production rights in four concessions, BM-SEAL-4, BM-SEAL-4A, BM-SEAL-10 e BM-SEAL-11, located in the Deepwater Sergipe-Alagoas Basin.

At this stage of the project, process letters are issued to qualified interested parties with detailed instructions about the divestment process, access to a virtual data room containing more information about the fields is provided, in addition to guidelines to conduct due diligence and submit binding proposals.

This process in particular will not feature a non-binding phase, pursuant to Petrobras’ divestment methodology, which is aligned with the provisions of the special procedure for the sale of the rights to exploration, development and production of petroleum, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.

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