Home Offshore Energy Petrobras signs contract for the sale of E&P assets in Alagoas

Petrobras signs contract for the sale of E&P assets in Alagoas

Petrobras, following up on the release disclosed on June 30, 2021, informs that it signed yesterday with the company Petromais Global Exploração e Produção S.A. (Petro+) the agreement for the sale of the totality of its stake in a set of seven onshore and shallow water concessions denominated Alagoas Cluster, located in the state of Alagoas.

The total sale amount is US$ 300 million, of which: (a) US$ 60 million paid on this date and; (b) US$ 240 million to be paid at the closing of the transaction. The amounts do not consider adjustments due until the closing of the transaction, which is subject to compliance with certain precedent conditions, such as approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

This disclosure complies with Petrobras’ internal rules and is aligned with the provisions of the special procedure for assignment of rights on exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

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

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