Petrobras Starts Sale of E&P Asset in Potiguar Basin

Source: www.gulfoilandgas.com 7/9/2021, Location: South America

Petrobras started the stage of publicizing the opportunity (teaser) related to the sale, together with 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 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 for gas discovery and one for delimitation. There are no remaining commitments to be fulfilled.

This operation is in line with the strategy of portfolio optimization, reducing debt and improving the company's capital allocation, increasingly concentrating its resources on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated great competitive advantage over the years.

This disclosure is in accordance with Petrobras' internal rules 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 No. 9.355/2018. The main subsequent stages of the project will be informed in due course to the market.


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