Petrobras announces start of binding phase for sale of E&P assets in Espírito Santo Basin

August 5, 2019

Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/05/2019, informs the beginning of the binding phase related to the sale of all its stakes in the Peroá and Cangoá production fields and in the concession BM-ES-21 (Malombe discovery appraisal plan), located in the Espírito Santo Basin.
Qualified parties for this phase will receive invitation letters with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.
This release complies with Petrobras’ divestment methodology and is aligned with the provisions of the special procedure for the sale of the rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018. In this particular case, as allowed by the methodology, the project won´t have a non-binding phase.
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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