Petrobras, further to the notice disclosed on November 27, 2024, hereby announces the start of the binding phase for the total transfer of its 25% minority interest in the exploration, development, and production of oil and natural gas in the Tartaruga Field, located in the municipality of Pirambu-SE, in shallow waters of the Sergipe-Alagoas Basin, operated by SPE Tiêta (Petrorecôncavo).
Qualified potential buyers for this phase will receive an invitation letter (Process Letter) with detailed instructions regarding the ongoing process, including instructions for conducting due diligence and submitting binding proposals.
This announcement complies with Petrobras' internal regulations and the provisions of the special procedure for the transfer of exploration, development, and production rights for petroleum, natural gas, and other fluid hydrocarbons, as provided for in Decree 9,355/2018.
About the Tartaruga Field
The Tartaruga Field is located on the northern coast of the State of Sergipe, in the municipality of Pirambu, in the shallow waters of the Sergipe‐Alagoas Basin. The wells were directionally drilled from a land-based facility within the Field.
Petrobras' share of production from the Tartaruga Field, based on the 2024 average, was approximately 41 barrels of oil per day (bpd) and 689 m³/day of associated gas. Petrobras holds a 25% stake in the asset, while SPE TIETA (a company controlled by Petrorecôncavo) operates the field with a 75% stake.
About Petrobras
Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.
We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.
Based on this discovery, with a substantial volumetric potential for natural gas, the social/environmental and licensing procedures required to carry the gas to consumer centers will begin.
Petrobras reaffirms its commitment to conducting operations in Colombia, working safely, respecting life, people, and the environment, and acknowledging the importance of talks with the local communities and compliance with the country's legal requirements.