Petrobras on Receiving the Last Installment of the Sale of Block BM-S-8

Source: www.gulfoilandgas.com 2/1/2022, Location: South America

Petrobras, following up on the releases disclosed on 11/22/2016, 03/21/2018 and 12/09/2021, informs that it received today from Equinor Brasil Energia Ltda. (Equinor) the amount of US$ 475 million, equivalent to half of the third installment related to the sale of its stake in the exploratory block BM-S-8, where is located the Bacalhau field (former Carcará area). The remaining amount of US$ 475 million will be paid on 02/10/2022.

This receipt was conditioned to the approval of the Production Individualization Agreement (AIP) for the Bacalhau and Norte de Bacalhau fields by the National Petroleum, Natural Gas, and Biofuels Agency (ANP), which occurred on 12/9/2021.

Petrobras sold its total stake (66%) in block BM-S-08 to Equinor, for US$ 2.5 billion. At the closing of the operation, the company received US$ 1.25 billion, and at the signing of the sharing contract for the Norte de Bacalhau block, it received US$ 0.3 billion, totaling US$ 1.55 billion.

The result of the third installment will be recognized in the financial statements for the 4th quarter of 2021. .


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