More divestments by Petrobras: the oil company completed the sale yesterday morning (11/05) of fourteen oil fields in Bahia

Petrobras, continuing the statement released on 17/12/2020, informed in a material fact to the Market, which completed the sale of its entire stake in fourteen onshore exploration and production fields, called Polo Recôncavo, located in the state of Bahia, to 3R Candeias, formerly known as Ouro Preto Energia Onshore, a wholly-owned subsidiary of 3R Petroleum.

According to Petrobras' statement, the total value of the sale was US$ 256 million (about R$ 1,279 billion), with (a) US$ 10 million paid upon signing the contract, on 17/12/2020 and (b) ) US$ 246 million as of today, already considering the adjustments provided for in the contract.  

Petrobras continues to concentrate its resources on assets in deep and ultra-deep waters

This operation is in line with the portfolio management strategy and the improvement of the company's capital allocation, aiming at maximizing value and greater return to society. Petrobras continues to concentrate its resources on assets in deep and ultra-deep waters, where it has demonstrated a great competitive advantage over the years, with lower greenhouse gas emissions.

The Hub comprises the onshore fields of Aratu, Ilha de Bimbarra, Mapele, Massui, Candeias, Cexis, Socorro, Dom João, Dom João Mar, Pariri, Socorro Extension, São Domingos, Cambacica and Guanambi, located in the state of Bahia.

Petrobras is the operator with a 100% interest in these concessions, with the exception of Cambacica and Guanambi, in which it has a majority interest of 75% and 80%, respectively. The average production of the Recôncavo Complex from January to April 2022 was approximately 1.321,56 barrels of oil per day and 444,15 thousand m³/day of natural gas.

3R Candeias SA is a company focused on the redevelopment of mature and producing fields, a wholly-owned subsidiary of 3R Petroleum Oil and Gas SA, a company listed on B3's Novo Mercado.