Petrobras Signs a Contract for the Sale of an Asset in the Potiguar Basin

Source: www.gulfoilandgas.com 12/27/2021, Location: South America

Petrobras, in continuity with the statements released on July 9, 2021 and August 9, 2021, informs that it signed today (12/27) with the company Aguila Energia e Participacoes Ltda (Aguila) a contract for the assignment, together with the Sonangol Hidrocarbonetos Brasil Ltda (Sonangol), of the total participation of both companies in the onshore exploratory block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state of Rio Grande do Norte.

The sale price is US$ 750,000, with (a) US$ 150,000 being paid on this date and; (b) US$600k to be paid at the closing of the transaction. The amounts do not consider the adjustments due until the closing of the transaction, which is subject to the fulfillment of certain precedent conditions, such as approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

This disclosure is in accordance with Petrobras' internal rules and with the provisions of the special procedure for the assignment of exploration, development and production rights for oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This operation is in line with the company's portfolio management strategy and capital allocation improvement, aiming at maximizing value and greater return to society. Petrobras continues to increasingly focus its resources on deep and ultra-deep water assets, where it has shown a great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About the BT-POT-55A

concession The concession was acquired in 2006 in the 7th Round of Bidding for Blocks held by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). Petrobras holds a 70% stake and Sonangol, operator of the concession, holds the remaining 30%.

The consortium drilled two wells in the area, one of which is a gas discoverer and one for delimitation. There are no remaining commitments of the Minimum Exploratory Program (PEM) to be fulfilled.


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