Petrobras announces sale of Piranema and Piranema Sul fields


RIO DE JANEIRO -- Petrobras has announced that it has started the opportunity disclosure stage regarding the transfer of Petrobras’ total stake in the Piranema and Piranema Sul fields.

In this project, Petrobras, operator with a 100% equity interest, offers all the rights in the maritime concessions Piranema (PRM), field in production, and Piranema Sul (PRMS), an undeveloped field, both located in deep waters in Sergipe-Alagoas Basin.

The average oil production of the Piranema field in 2017 was 4,000 bpd. All the gas produced in the field is re-injected.

The teaser containing key information about the opportunities, as well as the objective criteria for the selection of prospective purchasers, is available on Petrobras’ website.

Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as detailed below:

• Start of the non-binding phase (if applicable);
• Start of the binding phase;
• Concession of exclusive negotiation (if applicable);
• Transaction approval by Senior Management (Executive Board and Board of Directors) and signature of contracts;
• Closing.

The disclosure to the market herein is in compliance with Petrobras' divestment methodology and is aligned with the guidelines of the Federal Accounting Court (TCU).

This material is being provided pursuant to Brazilian regulatory requirements, does not constitute an offering, under the U.S. securities laws, and is not a solicitation, invitation or offer to buy or sell any securities. The information on our website, which is accessible through hyperlink resulting from this URL, is not and shall not be deemed part of this report on Form 6-K.

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