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Petrobras Starts Binding Phase in the Camamu Basin

Source: 8/7/2020, Location: South America

Petrobras, in continuation of the communique released on 06/01/2020, informs the beginning of the binding phase regarding the sale of its stake (35%) in the Manati field, a shallow water maritime production concession located in the Camamu Basin, in the State of Bahia.

Potential buyers classified for this phase will receive an invitation letter with detailed instructions on the divestment process, including guidelines for carrying out due diligence and sending binding proposals.

The main subsequent stages of the project will be informed to the market in due course.

This disclosure is in accordance with Petrobras' divestment guidelines and with the provisions of the special procedure for the assignment of rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018.

This operation is in line with the strategy of portfolio optimization and improving the allocation of the company's capital, starting to increasingly concentrate its resources in deep and ultra-deep waters, where Petrobras has demonstrated a great competitive differential over the years.

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