Petrobras on arbitration award involving Sete Brasil

February 11, 2020

Petróleo Brasileiro S.A. – Petrobras informs about a favorable arbitration award to the company, which rejected a claim made by an investor in Sete Brasil Participações S.A. (in reorganization), in arbitration proceedings seeking compensation from Petrobras for alleged damages related to their investment in the Sondas Project.

Due to the favorable outcome of these proceedings, in the 4Q19 results, Petrobras will deduct the amount of R$ 1.3 billion from the provision related to the disputes involving the company Sete Brasil.

The company remains in defense of its interests in the ongoing proceedings

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