Petrobras, following up on the release disclosed on 01/03/20, informs that it signed today with Energizzi Energias do Brasil Ltda a contract for the sale of its entire stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe.

The sale value is US$ 1.5 million, paid in a single installment in the contract signature. The closing of the transaction is subject to the fulfillment of previous conditions, such as the non-exercise of preferential rights by the current consortium Petrom Produção de Óleo e Gás Ltda. (Petrom) and the approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

This disclosure is in accordance with Petrobras' internal rules and 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 strategy of portfolio optimization and improvement of the company's capital allocation, focusing its resources increasingly on deep and ultra-deep waters, where Petrobras has shown great competitive edge over the years. 

About Rabo Branco field

The Rabo Branco field is part of the BT-SEAL-13 concession. The concession is located south of the Carmópolis field, in the Sergipe-Alagoas Basin, Sergipe State. Petrobras has a 50% stake in the Rabo Branco field, in partnership with Petrom, which is the Operator and holds the remaining 50%. The average oil production of the field, from January to October 2020, was 138 bpd.

KeyFacts Energy: Petrobras Brazil country profile