Investment Opportunities Onshore Fields: Start of the Binding Phase

Source: www.gulfoilandgas.com 6/18/2018, Location: South America

Petrobras, further to the Material Fact of 09/22/2017 and press release of 03/02/2018, informs the beginning of the binding phase related to the full sale of its exploration, development and production rights in four sets of onshore fields (Fazenda Belém, Macau, Sergipe Terra 1 and Sergipe Terra 3), located in the states of Ceara, Rio Grande do Norte and Sergipe.

At this stage of the project, process letters are issued to interested parties qualified in the previous phase, with detailed instructions about the divestment process, including the guidelines to conduct due diligence and submit binding proposals.

This disclosure is in compliance with Petrobras' divestment methodology and is aligned with the provisions of the special procedure for the sale of the rights to exploration, development and production of petroleum, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.




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