Petrobras initiates binding phase of Polo Tucano Sul

Petrobras initiated the binding phase referring to the sale of all its holdings in four land exploration and production concessions, located in the state of Bahia, called Polo Tucano Sul. The region encompasses the fields of Fazenda Matinha, Conceição, Querwill and Fazenda Santa Rosa, in the Tucano basin.

An invitation letter will be sent to those empowered with more information on the disinvestment process, guidelines for conducting due diligence (a set of care that is expected that a company or person has, before closing an agreement, contract or With a given standard of service) and to submit the binding proposals.

In note, the company made clear that the disclosure is in accordance with the systematic for disinvestments and in addition, is aligned to the optimization of the portfolio and the improvement of the allocation of the company’s capital, which seeks to generate value for shareholders.

Petrobras has 100% of participation in the area, thus the only operator in the Polo Tucano Sul. In 2018, the state produced about 29200 m3/day of gas.

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