Petrobras – Results of the 5th ANP Bidding Round – Production Sharing Regime

Rio de Janeiro, September 28, 2018 – Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on June 5, 2018, informs that it acquired an offshore block in the 5th Bidding Round under the Production Sharing Regime, held today by the National Petroleum Agency (ANP), as the operator in this block.

Under this regime, the consortium transfers to the government a percentage called ” oil surplus to the Federal Government”, which applies to the production after deducting costs and royalties. The offer of surplus oil to the Government was the only criterion considered by the ANP to define the winning bid.

Petrobras acquired a 100% interest in the Sudoeste de Tartaruga Verde block, being the winner offering a minimum oil surplus of 10.01% and a bonus of R$ 70 million, set forth in the Bidding Announcement.
The total value of the signature bonus to be paid by Petrobras will be reallocated within the budget approved in the 2018-2022 Business and Management Plan.

As with the other rounds held in 2017 and 2018, Petrobras performed selectively in the bidding held today, aligned with the foundations of its Strategic Plan and guided by all its knowledge and experience built-up in the basins where the blocks were tendered.

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