Petrobras releases E&P teaser in the Santos Basin: Merluza and Lagosta fields

February 27, 2020

Petróleo Brasileiro S.A. – Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of all its equity interest in Merluza and Lagosta fields, located in the shallow waters of Santos Basin.

The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available here: Teaser-Polo-Merluza-Ingles-completo

The main subsequent stages of the project will be reported to the market in due course.

This disclosure complies with the Petrobras’ divestment guidelines and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.

About Merluza and Lagosta fields
Operating since 1993, the Merluza fixed platform (PMLZ-1), located in a 135-meter water depth, is the oldest in operation in the Santos Basin and was installed for the production of natural gas and condensate from the field. Since April 2009, the maritime unit has also been responsible for the production of natural gas and condensate from the Lagosta field. The average production of the fields, in 2019, was 3.6 thousand boe/day.

Petrobras is the exclusive concessionaire of both concessions.

This material is being provided pursuant to Brazilian regulatory requirements, does not constitute an 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.

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