Petrobras Releases New E&P Teaser in the Sergipe-Alagoas Basin

Source: www.gulfoilandgas.com 4/11/2022, Location: South America

Petrobras, following up on the release disclosed on August 07, 2020, informs that the process of selling the totality of its interest in the Tartaruga Field, located in shallow waters of the Sergipe-Alagoas Basin, State of Sergipe, was not concluded. The process was in the binding phase.

Thus, reinforcing its commitment to the broad transparency of its divestment projects and portfolio management, Petrobras informs that it is restarting the divestment process, with the disclosure of a new opportunity (teaser).

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 portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide greater return to society. Petrobras continues to concentrate its resources on assets in deep and ultradeep waters, where it has shown a great competitive differential over the years, producing better quality oil and lower greenhouse gas emissions.

About Tartaruga Field
The Tartaruga field is located on the northern coast of the state of Sergipe, in the city of Pirambu, in shallow waters of the Sergipe-Alagoas Basin. The field wells were drilled directionally, from the base located in the onshore portion of the ring-fence. The average production in 2021 was approximately 222 bpd of light oil (37º API) and 4,660 m³/day of associated gas.

Petrobras holds a 25% stake in the field and Maha Energy Brasil Ltda is the operator, with a 75% stake.


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