Continuing the communiqué released on August 10, 2020, Petrobras informs the beginning of the binding phase regarding the sale of 50% to 100% of its stake, with the passage of the operation, in the BM-S-51 concession, in the Santos Basin . The concession is located in water depths ranging from 350 to 1,650 m and about 215 km off the coast of São Paulo.

Potential buyers qualified for this phase will receive an invitation letter with instructions on the divestment process, including guidelines for carrying out due diligence and sending binding proposals.

This disclosure is in accordance with the internal rules of Petrobras and with the provisions of the special procedure for the assignment of rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018.

This operation is in line with the optimization of the portfolio and the improvement in the allocation of the company's capital, with a view to generating value for its shareholders.

About the BM-S-51 concession 

The BM-S-51 concession was acquired in the 7th Round of Block Bids carried out by ANP in 2005 and is in the 1st Exploratory Period, with the remaining commitment to drill a well to comply with the Minimum Exploratory Program.

Petrobras is the operator with an 80% interest in this asset, in a consortium with Repsol Sinopec Brasil, which holds the remaining 20%.