Petrobras on E&P assets in the Santos Basin

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on September 8, 2021, informs the beginning of the binding phase referring to the sale of all its stakes in the Uruguá and Tambaú fields, belonging to the BS-500 concession, located in the Santos Basin, in the State of Rio de Janeiro.

Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.   

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 aligned with the strategy of portfolio management and the improvement of the company’s capital allocation, aiming to maximize value and provide higher return to society. Petrobras is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown a higher competitive differential over the years, producing better quality oil and lower greenhouse gas emissions.

About Uruguá and Tambaú Fields

The Uruguá and Tambaú fields belong to the BS-500 concession, which was acquired through the Zero Round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The fields are located in the northern portion of the Santos Basin, between 140 and 160 km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,000 to 1,500m. The fields’ production, in 2020, was approximately 5 thousand bpd of oil and 918 thousand m3/day of gas. Petrobras holds a 100% stake in both fields.

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