May 4, 2020
Petróleo Brasileiro S.A. – Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Manati field, a maritime production concession in shallow waters located in the Camamu Basin, in the State of Bahia.
The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the 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 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 Manati field
Manati field is located 10km off the coast of the city of Cairú, Bahia, at a water depth of between 35 and 50 meters. The field started operating in 2009 and its average production in 2019 was 105 bpd of condensate and 1,269 thousand m3 /day of gas, through the PMNT-1 fixed platform, which involves a submarine structure composed of 6 gas producing wells.
Petrobras is the operator of the field, with 35% stake, in partnership with Enauta Participações (45%), Geopark Brasil E&P de Petróleo e Gás Ltda. (10%) and Brasoil Manati Exploração Petrolífera Ltda. (10%).
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.