Petrobras Releases Teaser for E&P in Espirito Santo Basin

Source: www.gulfoilandgas.com 6/1/2020, Location: South America

Petrobras has started the opportunity disclosure stage (teaser), regarding the sale of a part of its interest in the exploratory blocks belonging to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M743_R11 concessions, located in the Espírito Santo Basin.

The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants.

The main subsequent stages of the project will be reported to the market in due course. This disclosure complies with the Petrobras' divestment guidelines and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders


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