Petrobras informs that it concluded on december 29th the sale of all of its stakes in 27 onshore exploration and production concessions, located in Espírito Santo, jointly denominated Cricaré Cluster to Karavan Seacrest SPE Cricare, a company in which Karavan O&G Participações e Consultoria Ltda. holds 51% of the capital stock, and Seacrest Exploração e Produção de Petroleo Ltda. holds the remaining 49%.

After compliance with the preceding conditions, the operation was concluded with the payment of US$ 27 million to Petrobras, already with the adjustments provided for in the contract. The amount received at closing is in addition to the US$ 11 million paid to Petrobras at the signing of the sale contract. The sale contract also foresees US$ 118 million in contingent payments related to future oil prices.

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 company's portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide greater return to society. Petrobras is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown a great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About Cricaré Cluster 

The Cricaré Cluster comprises 27 onshore concessions: the fields of Biguá, Cacimbas, Campo Grande, Córrego Cedro Norte, Córrego Cedro Norte Sul, Córrego Dourado, Córrego das Pedras, Fazenda Cedro, Fazenda Cedro Norte, Fazenda Queimadas, Fazenda São Jorge, Guriri, Inhambu, Jacutinga, Lagoa Bonita, Lagoa Suruaca, Mariricu, Mariricu Norte, Rio Itaúnas, Rio Preto, Rio Preto Oeste, Rio Preto Sul, Rio São Mateus, São Mateus, São Mateus Leste, Seriema and Tabuiaiá , which are located in the state of Espírito Santo, in the cities of São Mateus, Jaguaré, Linhares and Conceição da Barra. Petrobras is the operator with 100% interest of these concessions. The average production of Cricaré Cluster from January to November 2021 was around 1.3 thousand bpd of oil and 15.4 thousand m3 / day of gas.