Petrobras Announces Sale of Parana Basin Concession

Source: www.gulfoilandgas.com 12/20/2021, Location: South America

Petrobras, following up on the release disclosed on 08/03/2021, informs that it signed with Ubuntu Engenharia e Serviços Ltda a contract for the sale of its total stake in the concession PAR-T-198_R12, located onshore, in the Paraná Basin.

The total value of the transaction is US$ 31 thousand and the closing is subject to compliance with precedent conditions and approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

This disclosure complies with the 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 aligned with the company's strategy of portfolio management and capital allocation improvement, aiming to maximize value and provide greater return to society. Petrobras is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About the Paraná Basin block

The PAR-T-198_R12 Concession, located in the far west of the State of São Paulo, was acquired in the 12th ANP Bidding Round in 2013 and is currently in the 1st Exploratory Period and with the Minimum Exploratory Program (MEP) commitments already fully met. Petrobras holds 100% interest in the concession.


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