Petrobras informs that it has started the opportunity disclosure stage (teaser), regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in the Gulf of Mexico.

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

This disclosure is in accordance with Petrobras' internal rules.

This transaction is in line with the company's strategy of portfolio optimization, debt reduction, and capital allocation improvement, as it increasingly concentrates its resources in world-class assets in deep and ultradeep waters in Brazil, where Petrobras has shown a great competitive edge over the years.

About MPGoM

It is a Joint Venture Company (JV) with an 80% stake from Murphy Exploration & Production Company and 20% from PAI, created in October 2018, with the contribution of all oil and natural gas assets in production, located in the Gulf of Mexico, of both companies.

MPGoM holds participation as operator or non-operator in 14 offshore fields in the Gulf of Mexico. Petrobras' share of the fields' production in the first half of 2021 was 11,300 bpd of oil equivalent.

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.