Petrobras announces Baúna field sale offer

Rio de Janeiro, July 15, 2019 – Petróleo Brasileiro S.A. – Petrobras informs that in the scope of the competitive sale process for the sale of its entire stake in Baúna field (concession area BM-S-40), located in shallow waters in the Santos basin, Karoon Petróleo & Gás Ltda. presented the best proposal.
However, in relation to the news published in the media about this transaction, we clarify that the transaction is still under approval phase by Petrobras’ governance bodies and that the subsequent phases will be disclosed to the market in accordance with the company’s Divestment Methodology.
This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

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