December 2, 2019 –
Petróleo Brasileiro S.A. – Petrobras announces that it has started the opportunity disclosure stage, referring to the sale of its interest in the onshore fields of Dó-Ré-Mi and Rabo Branco, belonging to the BT-SEAL-13 Concession, located in the SergipeAlagoas Basin.
The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on Petrobras website: https://www.investidorpetrobras.com.br/en/results-and-notices/teasers.
The main subsequent stages of the project will be reported to the market in due course.
This announcement is in accordance with Petrobras’ disinvestment guidelines and with the provisions of the special procedure for assignment of rights on 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 the BT-SEAL-13 Concession
The BT-SEAL-13 Concession was acquired in the ANP´s 7th Bidding Round, in 2005. The Rabo Branco field has been producing light oil since 2012, with an average daily oil production of 161 bpd in 2018. The Dó-Ré-Mi field has two gas discovery wells, without commercial production yet. Both fields have full 3D seismic coverage.
Petrobras holds 50% of this concession in partnership with Petrogal Brasil, which is the operator and holds the remaining 50%.
Bids must be made by field, separately.
This material is being provided pursuant to Brazilian regulatory requirements, does not constitutean offering, under the U.S. securities laws, and is not a solicitation, invitation or offer to buy or sell any securities. The information on our website is not and shall not be deemed part of this report on Form 6-K.