Petrobras concludes the sale of Lagoa Parda Cluster

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 10/11/2019, informs that it has concluded today the sale of its entire stake in the onshore fields of the Lagoa Parda Cluster, located in the state of Espírito Santo, near the city of Linhares, to Imetame Energia Lagoa Parda Ltda., affiliate of Imetame Energia Ltda.

After fulfilling the previous conditions, the transaction was concluded with the payment of  US$ 9,441,586.10 to Petrobras, already with the adjustments foreseen in the contract. The amount received at closing is added to the amount of US$ 1,405,869.90 paid to Petrobras at the signing of the sales agreement.

This disclosure complies with the Petrobras’ internal rules 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 world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years.

About Lagoa Parda Cluster

The Lagoa Parda Cluster comprises three onshore concessions in production: Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha. Petrobras is the operator with 100% equity interest in all three fields. The average production of the Cluster from January to August 2020 was approximately 113.5  barrels of oil per day (bpd) and 1.7 thousand m3/day of natural gas.

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