Petrobras signed a contract to sell its entire stake in the Polo Lagoa Parda, in Espírito Santo, to Imetame Energia

Today, October 11, Petrobras signed a contract to sell its entire stake in the Polo Lagoa Parda, in Espírito Santo, close to the municipality of Linhares, to Imetame Energia. According to the state-owned company, the deal involves US$9,37 million. Petrobras will become, by 2022, a company in Rio de Janeiro, São Paulo and Espírito Santo.

According to the oil company, the sale price will be paid in two installments, one of which is US$1,4 million at the signing of the contract, and another of just under US$8 million at the closing of the transaction.

According to Petrobras, the closing of the transaction is subject to the fulfillment of conditions precedent, such as approval by the Administrative Council for Economic Defense (CADE) and by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

“The transaction is in line with the portfolio optimization and the improvement of the capital allocation of companhia, aiming at generating value for our shareholders”, said Petrobras.

The operation is in accordance with the Petrobras Divestment System and with the provisions of the special procedure for the assignment of rights for exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.

About Polo Lagoa Parda

The Polo Lagoa Parda comprises three land concessions in production: Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha. Petrobras is the operator with a 100% stake in the three fields.

The Pole's current average production is approximately 300 barrels of oil per day (bpd) and 5,5 m3/day of gas.

About Imetame Energia

Imetame Energia is a Brazilian company, which operates in the oil and gas segment as operator of onshore blocks and fields in the Brazilian Sedimentary Basins of Recôncavo (BA), Potiguar (RN), Espírito Santo (ES) and São Francisco (MG) with an average production of 820 boe/day.

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