Petrobras Progresses Sale of Potiguar Basin Assets

Petrobras will continue to operate the assets following the selldown of working interest.

Petrobras sign

Petrobras entered the binding phase of the sale of 40% of its stake in the BM-POT-17 exploratory concessions, in which the Pitu well discovery assessment plan is being developed (Blocks POT-M-853 and POT-M-855), and the POT-M-762_R15 concession (Block POT-M-762), located in deep waters in the Potiguar Basin—Equatorial Margin–off the coast of Rio Grande do Norte. Petrobras currently holds a 100% stake in these concessions and will continue as operator of the partnership after the sale.

Petrobras said the search for partnership in these assets is aligned with its portfolio management strategy and the improvement of the company’s capital allocation, aiming to maximize value.

POT-M-853 and POT-M-855 are exploratory blocks acquired in the 7th Bidding Round of the National Petroleum Agency (ANP) in 2006. Petrobras is conducting the discovery assessment plan for the Pitu well, with a firm commitment to drill an exploratory well (Pitu Oeste) scheduled for 2023.

POT-M-762 is an exploratory block acquired in the 15th ANP Bidding Round in 2018. Petrobras plans to drill the Anhangá well between 2023 and 2024.