Page 13 - LatAmOil Week 18 2022

LatAmOil NEWS IN BRIEF LatAmOil

INVESTMENT
Petrobras reports on plan

for dividend payments to

shareholders

Petrobras informs that its Board of Directors, at
a meeting held today, approved the payment of
a dividend in the amount of BRL3.715490 per
outstanding preferred and common share.
The proposed dividend is in line with the
Shareholder Remuneration Policy, which pro-
vides that in case of gross debt below $65bn,
Petrobras may distribute to its shareholders 60% BRL0.430177 per outstanding preferred and optimised models of oil rig setup.
of the difference between operating cash flow common share. The second installment will be “All reduction in oil rig building times equals
and acquisitions of fixed and intangible assets paid in full as dividends. preservation of operational safety, and reduction
(investments). In addition, the Policy also fore- Petrobras, May 5 2022 in costs tied to value generation. For reference,
sees the possibility of paying extraordinary divi- the oil rig activity represents about 30% of inves-
dends, provided that the financial sustainability Petrobras will invest $5,5bn timents in the Extraction and Production areas.
of the Company is preserved. We thus seek the best results in this activity,
The approval of the proposed dividend is in production over in the keeping safety and optimising the oil rig setup in
compatible with the company’s financial sus- the fastest, most efficient way, always complying
tainability and is aligned with the commitment next five years with the industry’s best practices in safety,” states
of value generation for the society and for the Bordieri.
shareholders, as well as with the best practices in The recent pre-salt oil discoveries, in the Cen- Petrobras, May 4 2022
the oil and gas industry. tral Alto de Cabo Frio and Aram areas, open up
Of the approved amount, (i) BRL3.138754 a scenario of new extraction opportunities for OTC 2022: Petrobras to
per share refers to the anticipation of shareholder Brazil. The discoveries are the result of the inten-
remuneration for 2022 and will be declared sification of the extraction efforts by Petrobras, invest $16bn in the Campos
based on the balance sheet of March 31, 2022; which plans to invest $5.5bn in this segment in
and (ii) BRL0.576736 per share will be paid out the next five years. The statement comes from Basin renewal plan
of profit retention reserves on the balance sheet Petrobras Strategy executive manager, Edu-
for fiscal year 2021. ardo Bordieri, who presented the “Petrobras Petrobras will invest $16bn in the renovation
The dividends will be paid in two equal perspectives on O&G double resilience” panel plan for the Campos Basin, with plans to install
installments in June and July, as follows: during the Brazil-Texas Chamber of Commerce three new platforms and interconnect more
Amount to be paid: BRL3.715490 per com- (Bratecc) Annual Breakfast Offshore, on May than 100 oil rigs in the area over the next five
mon and preferred share outstanding, whereby: 4, a parallel event to Technology Conference years. With more than 40 years of history and
(i) the first installment, in the amount of (OTC), in Houston (USA). two awards received by the Offshore Technology
BRL1.857745 per outstanding preferred and Of all investments planned in Petrobras Stra- Conference (OTC) for technological advances in
common share, will be paid on June 20, 2022. tegic Plan regarding new production frontiers, the Marlim (1992) and Roncador (2001) fields,
(ii) the second installment, in the amount of the Southeast Basins (including pre-salt pros- the Campos Basin maintains a prominent posi-
BRL1.857745 per preferred and common share, pects) will receive 58% of resources; the Equa- tion as an innovation center and points to the
will be paid on July 20, 2022. torial Margin, 38%, and the other areas, 2%. “All future: today it is the stage for the largest revi-
Record date: May 23, 2022 for holders of Petrobras investments aim for double resilience: talisation project in the offshore industry world-
Petrobras shares traded on B3 and May 25, 2022 both economic (considering financially viable wide. The statement is from Petrobras’ Executive
for ADR holders traded on New York Stock projects with the Brent price at $35 in the long Manager of Strategy, Eduardo Bordieri, who pre-
Exchange (NYSE). Petrobras shares will be term) and environmental (projects with low car- sented, on Tuesday (May 3), the company’s main
traded ex-dividends on B3 and NYSE as of May bon emission),” as Bordieri summarised. investments for the area, during the Offshore
24, 2022. Reduction in the oil rig building times: Technology Conference (OTC).
Payment date: For holders of Petrobras shares Another highlight from the presentation was In the coming years, Petrobras will adopt
traded on B3, first payment will be made on June the significant reduction in the pre-salt oil rigs new technologies for the revitalisation of mature
20, 2022 and second payment will be made on building times, while maintaining operational assets in the area and decommissioning of its oil
July 20, 2022. ADR holders will receive payments safety. Between 2018 and 2021, the company platforms, which is the process of deactivation of
starting on June 27, 2022 and July 27, 2022, reduced the building times from 100 days to less the units when they end their life cycle. “In 2021,
respectively. than 70 days, in average. Petrobras’ projection is the Campos Basin accounted for about 25% of
Form of distribution: The first installment of to intensify these efforts and reach, before 2024, Petrobras’ total production. The company pro-
payment will be made as follows: (a) dividends, a reduction of 14% in these times - with the aid jects to reach, in 2026, a volume of 900,000 bar-
of BRL1.427568 per outstanding preferred and of its drilling efficiency and completion pro- rels of oil equivalent (boe) in that basin, with the
common share; and (b) interest on equity of gram, in addition to the use of new, faster and entry into production of three new systems.

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