November 28, 2019 –
Petróleo Brasileiro S.A. – Petrobras reports that it signed today with PetroRio Jaguar Petróleo Ltda., subsidiary of Petro Rio S.A. (“PetroRio”), a contract for the sale of
30% stake in the Frade concession, located in the Campos Basin, north coast of the state of Rio deJaneiro for US$ 100 million. Currently, PetroRio holds the remaining 70% of Frade’s concession through its subsidiaries.
The transaction also included the sale of the entire stake held by Petrobras Frade Inversiones S.A. (PFISA), a subsidiary of Petrobras, in the company Frade BV, which owns the offshore assets used in the development of Frade field production.