Petrobras Releases Teaser for Two Santos Basin Fields

Source: www.gulfoilandgas.com 9/8/2021, Location: South America

Petrobras has started the opportunity disclosure stage (teaser), referring to the sale of the totality of its stake in the Uruguá and Tambaú fields, belonging to the BS-500 concession, located in the Santos Basin, in the state of Rio de Janeiro.

The teaser, which includes key information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on the Petrobras´ Investor Relations website: https://www.investidorpetrobras.com.br/en/results-and-notices/teasers.

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

This disclosure is in accordance with Petrobras' internal rules 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 company's strategy of portfolio optimization, debt reduction, and capital allocation improvement, as it increasingly concentrates its resources in world-class assets in deep and ultradeep waters, where Petrobras has shown a great competitive edge over the years.

About Uruguá e Tambaú fields

The Uruguá and Tambaú fields belong to the BS-500 concession, which was acquired through the Zero Round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The fields are located in the northern portion of the Santos Basin, between 140 and 160 km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,000 to 1,500m. The fields' production, in 2020, was approximately 5 thousand bpd of oil and 918 thousand m³/day of gas. Petrobras holds a 100% stake in both fields.


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