Gulf Oil and Gas accountACCOUNT

Petrobras on Agreement in Arbitration of Sete Brasil

Source: www.gulfoilandgas.com 12/17/2020, Location: South America

Petrobras informs that, on this date, the payment of R$ 190 million was made to the Pension Fund of the Employees of the Bank of Brazil - Previ, due to the agreement that ended the arbitration litigation proposed by Previ in order to obtain compensation from Petrobras for alleged damages related to the investment in Sete Brasil.

The amount is reflected in the company's financial statements for the third quarter of 2020.

The agreement extinguishes the litigation without recognition of guilt or responsibility by both parties and its terms and the arbitration process are protected by confidentiality.

The company remains in defense of its interests in the ongoing processes.

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