Petrobras informs that it signed today with Petrorecôncavo S.A. a contract for the assignment of its entire stake in 12 onshore exploration and production fields, denominated Remanso Cluster, located in the state of Bahia.

The sale value is US$ 30 million, being (i) US$ 4 million paid on the present date; (ii) US$ 21 million at the closing of the transaction and (iii) US$ 5 million one year after the closing. The amounts do not take into account the adjustments due and the closing of the transaction is subject to compliance with precedent conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

This transaction was agreed upon after direct negotiation with Petrorecôncavo S.A., pursuant to item II of Article 3 of Decree 9,355/18, relating to the assignment of exploration, development and production rights for petroleum, natural gas and other fluid hydrocarbons.

This operation is aligned with the strategy of portfolio optimization and the improvement of the allocation of the company’s capital, concentrating increasingly its resources on world-class assets in deep and ultra-deep waters, where Petrobras has shown great competitive edge over the years.