The oil blocks for sale by Petrobras belong to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 concessions

Petrobras announced last night (01), the teaser referring to the sale of part of its stake in exploratory blocks in the Espírito Santo Basin. Also yesterday, the state-owned company announced progress in the process of selling oil fields in the Camamu Basin, Bahia.

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The oil blocks belong to the ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 concessions,

About Petrobras' concessions and stakes in exploratory blocks

The concessions for exploratory blocks ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11 and ES-M-743_R11 were acquired in the 11th ANP Bidding Round in 2013 and are currently in the 1st Exploratory Period.

Check below the current participation of Petrobras in the concessions

• ES-M-596_R11 Petrobras (50%) – operator; Equinor (50%)
• ES-M-598_R11 Petrobras (40%); Equinor (40%) – operator; Enaut (20%)
• ES-M-671_R11 Petrobras (40%); Equinor (35%) – operator; Total (25%)
• ES-M-673_R11 Petrobras (40%); Equinor (40%) – operator; Enaut (20%)
• ES-M-743_R11 Petrobras (40%); Equinor (35%) – operator; Total (25%)

The process of assignment to Petrobras of the stakes in Equinor, with consequent transfer of the operation, and in Total, is underway before CADE and ANP, with completion expected in the second half of 2020.

Check below a summary of the concessions and the total percentage of disinvestment by Petrobras after the conclusion of the processes before the regulatory bodies

• ES-M-596_R11 100 to 50
• ES-M-598_R11 80 to 40
• ES-M-671_R11 100 to 50
• ES-M-673_R11 80 to 40
• ES-M-743_R11 100 to 50

According to Petrobras, the concessions are strategically positioned in relation to the post-salt discoveries in the areas known as Parque dos Deuses, Parque dos Doces and Parque dos Cachorros, in the Espírito Santo Basin, with the potential to prove significant volumes and establish a position in a new exploratory frontier both in the pre-salt and post-salt fields.

The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selecting potential participants, is available on the Petrobras website