Petróleo Brasileiro S.A. – Petrobras informs that it has started the opportunity disclosure stage (teaser) for the sale, together with Sonangol Hidrocarbonetos Brasil Ltda. (Sonangol), of the total stakes of both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the State of Rio Grande do Norte.
The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on Petrobras’ Investor Relations 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 is in accordance with 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 company’s strategy of portfolio optimization, debt reduction, and capital allocation improvement, as it increasingly concentrates its resources in world-class assets in deep and ultradeep waters, where Petrobras has shown a great competitive differential over the years.
About BT-POT-55A concession
The concession was acquired in 2006 in the 7th Bidding Round of Blocks held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras holds a 70% stake and Sonangol, the concession operator, holds the remaining 30% stake.
The consortium has drilled two wells in the area, one gas discoverer and one appraisal well. There are no remaining commitments to be fulfilled.