Petrobras informs that it has finalized today, after the fulfillment of all the preceding conditions, the sale of its total interest in the Albacora Leste production field, located in the Campos Basin, to the company Petro Rio Jaguar Petróleo LTDA. (PetroRio), a subsidiary of Petro Rio S.A..

The transaction was concluded with the cash payment of US$ 1.635 billion (R$ 8.455 billion) to Petrobras, already with the adjustments provided for in the contract. The amount received today is in addition to the US$ 292.7 million paid to Petrobras when the sale contract was signed on 04/28/2022. In addition to this amount, Petrobras is expected to receive up to US$ 250 million in contingent payments, depending on future Brent prices.

With the conclusion of the assignment, PetroRio becomes the operator of the Albacora Leste field, with a 90% stake, in partnership with Repsol Sinopec Brasil, which holds the remaining 10%.

This operation is in line with the company's portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide a greater return to society. Petrobras continues to increasingly concentrate its resources on assets that have shown a great competitive advantage over the years, with lower greenhouse gas emissions.

About Albacora Leste

The Albacora Leste field has an area of 511.56 km2 and is located in the northern area of the Campos Basin, in water depths ranging from 1,000 to 2,150 m, at a distance of about 120 km from Cabo de São Tomé. The field started operations in 2006 and produced an average of 29,000 bbl/day of oil and 591,500 m3/d of gas in the year 2022, through the P-50 platform of the FPSO (Floating Production Storage and Offloading) type.

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.

About PetroRio

PetroRio is a wholly owned subsidiary of Petro Rio S.A.. PetroRio is the largest independent oil and gas company in Brazil, focused on the acquisition, redevelopment, and efficient and safe operation of mature fields, with operations concentrated in the Campos Basin.