Petrobras starts non-binding phase in Ceará Cluster

August 7, 2020

Petróleo Brasileiro S.A. – Petrobras informs that it has started the non-binding phase, referring to the sale of its entire stake in the Atum, Curimã, Espada and Xaréu shallow waters fields (Ceará Cluster) , located in the State of Ceará.

Potential buyers qualified for this phase will receive instructions on the divestment process, including guidelines for the preparation and submission of non-binding proposals, as well as access to a virtual data room containing additional information about the Cluster.

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 strategy and the improvement of the company’s capital allocation, increasingly concentrating its resources in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years.

 About the Ceará Cluster

The Ceará Cluster has been in operation since the 80s, and comprises the fields of Atum, Curimã, Espada and Xaréu, located at a distance of 30 km from the coast of the state of Ceará, in water depths between 30 and 50 meters. The 2019 average production was 4,200 bpd of oil and 76,900 m³/d of gas, through nine fixed platforms.

Petrobras is the operator in these fields with 100% share.

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