3R Petroleum is NOT a participant in the Petrobras Bahia Terra divestment

3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), in compliance with the provisions of CVM Resolution No. 44, comes to clarify the veracity of the news entitled “Brazil’s Eneva, PetroReconcavo and 3R bid for Petrobras onshore fields, say sources”, published on March 22 on Reuters news platform (“news”).

Contrary to the statement contained in the News, the Company denies that has submitted a proposal for the Bahia Terra Cluster and confirms that has informed to Petróleo Brasileiro S.A. – Petrobras the decision to not participate on the binding stage to acquire the asset. This decision is aligned to Management’s view that the building process of the Company’s current portfolio took place at a strategic moment, when the oil prices were at levels substantially lower than those observed in the current scenario.

Additionally, the Company reinforces its focus on organic growth and on the execution of plans to develop and increase production at the nine clusters that compose its portfolio. Finally, 3R reinforces its commitment to keep its investors and the market in general duly informed, in line with the best corporate governance practices and in strict compliance with current legislation.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: