Petrobras Acquires Part of Argonauta Field in Campos Basin

Petróleo Brasileiro S.A. – Petrobras has entered into an agreement to acquire 100% of a portion of the ring-fence of the Argonauta Field (BC-10 Concession) in the Campos Basin from Shell, ONGC, and Brava. This acquired portion represents 0.86% of the shared pre-salt Jubarte reservoir. The total consideration for the transaction is R$ 700 million and US$ 150 million, payable in installments. Upon completion, Petrobras will hold a 98.11% interest in the Jubarte Shared Reservoir. This acquisition aligns with Petrobras’ Business Plan, strengthening its operations in the Campos Basin and focusing on profitable assets. The transaction is subject to approval from the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) and the Administrative Council for Economic Defense (CADE).