Petrobras announces that it has started the binding phase referring to the sale of its interest in Dó-Ré-Mi and Rabo Branco onshore fields, belonging to the BT-SEAL-13 Concession, located in the Sergipe-Alagoas Basin.

Qualified parties for this phase will receive a process letter with instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure complies with Petrobras' divestment guidelines and is aligned 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 portfolio optimization and the improvement of the company’s capital allocation, aiming at generating value for our shareholders.

About the fields 

The fields Dó-Ré-Mi and Rabo Branco were acquired in the ANP's 7th Bidding Round, in 2005. The Rabo Branco field has been producing light oil since 2012, with an average daily oil production of 161 bpd in 2018. The Dó-Ré-Mi field has two gas discovery wells, without commercial production yet. Both fields have full 3D seismic coverage.

Petrobras holds 50% of this concession in partnership with Petrogal Brasil, which is the operator and holds the remaining 50%.

The offers must be made by field, separately.