Petrobras on receiving earnout from Baúna

Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 07/24/2020, 07/28/2020 and 11/06/2020, informs that it received today from Karoon Petróleo & Gás Ltda (Karoon), a subsidiary of Karoon Energy Ltd, the amount of R$ 430 million, equivalent to the contingent payment of the oil price  for the year 2022.

This amount was received in accordance with the terms of the contract negotiated between the companies, related to the sale of Petrobras’ total interest to Karoon in the Baúna field (concession area BM-S-40), located in shallow waters in the Santos Basin. The remaining tranches of such contingent payment may be received by Petrobras until 2026, depending on the oil price in next years.

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