Petrobras informs the start of the binding phase regarding the sale of its stake (35%) in the Manati field, a shallow water maritime production concession located in the Camamu Basin, in the state of Bahia.

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

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

This disclosure is in accordance with Petrobras' divestment guidelines and with the provisions of the special procedure for assigning 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 strategy of portfolio optimization and improving the allocation of the company's capital, starting to increasingly concentrate its resources in deep and ultra-deep waters, where Petrobras has demonstrated a great competitive differential over the years.

About the Manati Field 

The Manati field is located at a distance of 10 km from the coast of the municipality of Cairú / BA, in water depths between 35 and 50 meters. The field started operating in 2007 and its average production in 2019 was 1,269 thousand m3 / day of gas and 105 bpd of condensate (values referring to Petrobras' participation), through the fixed platform PMNT-1, which involves an underwater submarine structure 6 gas producing wells.

Petrobras is the operator of the field, with a 35% stake, in partnership with Enauta Participações (45%), Geopark Brasil E&P de Petróleo e Gás Ltda. (10%) and Brasoil Manati Exploração Petrolífera Ltda. (10%).