Binding phase begins for Petrobras, Chevron in sale of Maromba field in Campos Basin

10/4/2017

RIO DE JANEIRO -- Petrobras and Chevron Brasil Petróleo Ltda., have announced the start of the binding phase regarding the transfer of Petrobras and Chevron stake in the Maromba Field, in the Campos Basin.

At this stage of the project, the invitation letters are issued to interested parties qualified in the previous phase, with the instructions about the divestment process, including the guidelines to conduct due diligence and submit binding proposals.

This process in particular will not feature a non-binding phase, pursuant to the divestment methodology approved by Petrobras’ Executive Board and aligned with the guidelines of the Federal Accounting Court (TCU).

Petrobras is the operator of this field, with 70% stake, in partnership with Chevron Brasil Petróleo Ltda., which holds 30% stake.

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