Petrobras Reports On E&P Assets In The Santos Basin

Petrobras, in continuity with the statement released on September 8, 2021, announces the beginning of the binding phase regarding the sale of its entire stake in the Uruguá and Tambaú fields, belonging to the BS-500 concession, located in the Santos Basin, in the Rio de Janeiro state.

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

This disclosure is in accordance with Petrobras' internal rules and with the provisions of the special procedure for the assignment of 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 company's portfolio management strategy and capital allocation improvement, aiming at maximizing value and greater return to society. Petrobras continues to increasingly focus its resources on assets in deep and ultra-deep waters, where it has shown a great competitive edge over the years, producing better quality oil and with lower greenhouse gas emissions.

About The Uruguá and Tambaú fields
The Uruguá and Tambaú fields belong to the BS-500 concession, which was acquired through the Zero Round of the National Agency for Petroleum, Natural Gas and Biofuels (ANP). The fields are located in the northern portion of the Santos Basin, between 140 and 160km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,000 to 1,500m. Production from the fields, in 2020, was approximately 5,000 bpd of oil and 918,000 m3/day of gas. Petrobras holds 100% interest in both fields.