The value of the transaction amounts to US$ 1,293.5 million, to be paid in two tranches: (i) US$ 258.7 million paid today; and (ii) US$ 1,034.8 million on the transaction closing date, subject to adjustments.

Petrobras will maintain 50% working interest and the operatorship of the fields. Tartaruga Verde field started operations on 06/22/2018 and currently produces approximately 103 thousand bpd of oil and 1.2 million m³/day of gas. The Module III is an area of Espadarte field to be developed in an integrated way with Tartaruga Verde field, with first oil expected in 2021.

Petronas is Malaysia’s state-owned fully integrated oil and gas multinational, holding 100% of the oil and gas reserves in Malaysia, with presence in over 80 countries, operating in the Upstream, Downstream, Gas & New Energy as well as Project Delivery & Technology business areas.