Petrobras Begins Sale of E&P Assets in the Gulf of Mexico

Source: www.gulfoilandgas.com 10/4/2021, Location: South America

Petrobras started the stage of disclosure of the opportunity (teaser) regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas (USA), owner of offshore fields in the Gulf of Mexico.

This is a Joint Venture Company with 80% participation of Murphy Exploration & Production Company and 20% of PAI, created in October 2018, with the contribution of all oil and natural gas assets in production, located in the Gulf of Mexico, of both companies. MPGoM has an operator or non-operator stake in 14 offshore fields in the Gulf of Mexico. Petrobras' share of production from the fields, in the 1st half of 2021, was 11.3 thousand bpd of oil equivalent.

This operation is in line with the strategy of portfolio optimization, debt reduction and improvement in the company's capital allocation, increasingly concentrating its resources on world-class assets in deep and ultra-deep waters in Brazil, where the Petrobras has shown a great competitive edge over the years.

The teaser, which contains the main information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on Petrobras' Investor Relations website: https://www.investidorpetrobras.com.br/resultados- e-handouts/teasers.

The main subsequent stages of the project will be informed in due course to the market. This disclosure is in accordance with Petrobras' internal rules.


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