Petrobras informs on receipt of earnout from Sépia and Atapu

Petrobras informs that it has received, in cash, an amount of R$ 1.819 billion, referring to the complement of the firm compensation (earnout) of the 2023, from the Sépia and Atapu blocks. The amount already includes the gross-up of the taxes levied on the 28%, 21% and 21% stakes held by TotalEnergies EP Brasil Ltda, PETRONAS Petróleo Brasil Ltda and QatarEnergy Brasil Ltda, respectively, in Sepia and 25% and 22.5% of Shell Brasil Petróleo Ltda and TotalEnergies EP Brasil Ltda, in Atapu.

Under the terms of Ministerial Order No. 08 of 19/04/2021 of the Ministry of Mines and Energy (MME) and the public notice for the 2nd round of bids for the Onerous Transfer Surplus under the Production Sharing regime, which took place on 17/12/2021, earnout values were established for the Sépia and Atapu blocks, which will be due between 2022 and 2032, and payable from the last working day of January of the year following that in which the price of Brent-type oil reaches an annual average of more than US$ 40/bbl, limited to US$ 70/bbl.