Petrobras announces start of binding phase for the sale of onshore fields in Tucano Sul Cluster

September 20, 2019

Petróleo Brasileiro S.A. – Petrobras, following up on the release dated 07/25/2019, reports the beginning of the binding phase regarding the sale of its interest in four onshore exploration and production concessions, located in the state of Bahia, jointly called Tucano Sul Cluster.

Qualified parties for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This release complies with Petrobras’ divestment methodology, which is in accordance 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.

This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

About Tucano Sul Cluster

The Tucano Sul Cluster comprises four onshore concessions: Fazenda Matinha, Conceição, Quererá and Fazenda Santa Rosa fields, located in the state of Bahia, in the Tucano Basin ( located between Jatobá and Recôncavo basins), next to the municipalities of Biritingas and Sátiro Dias. Petrobras is the operator with 100% interest of these fields, which, in 2018, had an average total production of about 29.2 thousand m3/ day of gas.

 

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