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Petrobras Puts Its Stake in the Pelotas Basin, Rio Grande do Sul Up for Sale

Written by Paulo Nogueira
Published on 16/12/2019 at 11:37
Petrobras divulga teaser de E&P na Bacia de Pelotas
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Petrobras Announces the Start of the Opportunity Disclosure Stage (Teaser) for the Sale of a Portion of Its Interest in the BM-P-2 Concession, Located in the Pelotas Basin, in the State of Rio Grande do Sul.

Petrobras and Total are partners in this concession, each holding a 50% interest, with Petrobras as the operator. The divestment will be carried out jointly, with the sale of between 30% and 65% of interest in the concession.

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The teaser, which contains the main information about the opportunity, as well as the eligibility criteria for selecting potential participants, is available on Petrobras’ website: https://investidorpetrobras.com.br/pt/resultados-e-comunicados/teasers.

The main subsequent stages of the project will be communicated to the market in due course.

This disclosure is in accordance with Petrobras’ divestment guidelines and with the provisions of the special procedure for the assignment of exploration, development, and production rights for oil, natural gas, and other fluid hydrocarbons, as provided for in Decree 9,355/2018.
This operation aligns with the optimization of the portfolio and the better allocation of the company’s capital, aiming to maximize value for our shareholders.

About the Exploration Blocks
The BM-P-2 Concession is located in deep waters of the Pelotas Basin at a water depth between 1,000 m and 2,000 m, having been acquired by Petrobras (100% interest) in 2004 in the 6th Round of Bids by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Total became a partner by acquiring a 50% interest in 2013.

Currently, the concession includes the exploration blocks P-M-1269, P-M-1271, P-M-1351, and P-M-1353 and is strategically positioned in relation to the 18th Round of Bids by the ANP, scheduled for 2021, in which blocks from the Pelotas Basin are expected to be selected. This concession has a low exploratory commitment with the potential to prove significant volumes and establish a position in a new exploratory frontier.

Press Management / Communication and Brands
Phone: +55 (21) 3224-1306 and 3224-2312
Emergency: +55 (21) 99921-1048 and 99985-9623
imprensa@petrobras.com.br

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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