Petrobras Begins Binding Phase of E&P Assets in the Gulf of Mexico

Source: www.gulfoilandgas.com 4/18/2022, Location: North America

Petrobras, following up on the release disclosed on 02/16/22, informs that today it started the binding phase 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, which owns offshore fields in the Gulf of Mexico.

Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.

This disclosure is in accordance with Petrobras' internal rules and guidelines for divestments.

This operation is in line with the company's portfolio management strategy and capital allocation improvement, aiming at value maximization and higher return to society.


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