Petrobras concludes the sale of E&P Carmopolis assets in Sergipe

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/23/2021, informs that it has concluded today the sale of all its stakes in the set of 11 concessions of onshore fields of oil and gas production, with integrated facilities, located in the state of Sergipe, jointly called Carmópolis Custer, to the company Carmo Energy S.A..

The value of the sale is US$ 1.1 billion, of which: (i) US$ 275 million has already been paid, as a down payment; (ii) US$ 548 million paid on today’s date, closing of the transaction, already considering the adjustments due; and (iii) US$ 275 million in 12 months.

This disclosure is in accordance with Petrobras’ internal rules and the provisions of the special procedure for the assignment of rights of exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree No. 9,355/2018.

This operation is aligned with the portfolio management strategy and the improvement of the company’s capital allocation, aiming to maximize value and greater return to society.

About the Carmópolis Cluster          

The Carmópolis Cluster comprises 11 onshore production concessions, located in different municipalities of the state of Sergipe, and includes access to the infrastructure for processing, flow, storage, and transportation of oil and natural gas.

Also part of the Carmópolis Cluster is the Atalaia Cluster, which contains, among other assets, the Aracaju Waterway Terminal (Tecarmo) and the Bonsucesso-Atalaia Oil Pipeline, which transports oil production from the Carmópolis Cluster to Tecarmo.

The average production of the Carmópolis Cluster in November 2022 was 4.5 thousand barrels of oil per day and 22 thousand m3/day of gas. As of this date Petrobras transfers the operation of the fields to Carmo Energy.

About Carmo Energy

A, Carmo Energy, a subsidiary of an international group, has extensive experience in O&G operations and services.  During the assignment process, Carmo Energy was qualified by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) as operator C, fulfilling all the conditions required by ANP for authorization of the operation, being fully prepared and able to assume the operation of the entire Pole. The other companies in the same international group have been present in Brazil for more than 20 years, in sectors such as transmission and power generation.

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