Petrobras informs that it has started the opportunity disclosure stage (teaser), referring to the sale of all of its stakes in a set of twenty-eight onshore production field concessions, with integrated facilities, located in the Recôncavo and Tucano Basins, in different municipalities of the state of Bahia, jointly called the Bahia Terra Cluster.

This transaction is aligned with the strategy of portfolio optimization and the improvement of the company's capital allocation, concentrating increasingly its resources on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years.

About Bahia Terra Cluster 

The Bahia Terra Cluster comprises 28 onshore production concessions, located in different municipalities of the state of Bahia, and includes access to processing, logistics, storage, transportation and outflow infrastructure for oil and natural gas.

It has about 1,700 wells in operation, 19 collection stations, 12 collection points, 2 oil treatment stations, 6 collection and compressor stations, 4 water injection stations, approximately 980 km of gas and oil pipelines, besides the administrative bases of Taquipe, Santiago, Buracica, Araçás and Fazenda Balsamo.

There are also two oil storage and handling parks at the Bahia Terra Cluster with all the infrastructure for receiving, storing and draining oil for the Landulfo Alves Refinery (RLAM). In addition, the Cluster includes the NGPU of Catu and 10 electrical substations.

The average production of the Cluster from January to August 2020 was around 14 thousand barrels of oil per day and 642 thousand m3/day of gas. Petrobras is the operator of these fields, with 100% stake.

It is important to note that the concessions corresponding to the Miranga and/or Recôncavo Clusters (referenced in the releases of 08/28/2017 and 06/03/2019, respectively) may be included in the sale process of the Bahia Terra Cluster, which will be disclosed in due course.

The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the Petrobras website:

https://www.investidorpetrobras.com.br/en/results-and-notices/teasers.

The main subsequent stages of the project will be reported to the market in due course.

This disclosure is in accordance with Petrobras' internal rules and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.