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and (iv) $43.2mn in contract-based contingent (45%) in the Manati field to Gas Bridge. The
payments. The amounts do not consider the Manati field is located in Block BCAM-40 in the
adjustments due and are subject to compliance Camamu Basin, off the coast of Bahia.
with previous conditions, such as approval by the The deal is subject to some conditions prece-
National Agency of Petroleum, Natural Gas and dent. For the sale of its stake in the asset (includ-
Biofuels (ANP). ing the decomissioning fund), provided the
The cluster comprises the onshore fields of conditions agreed upon in the agreement are
Água Grande, Bonsucesso, Fazenda Alto das fulfilled, the Company shall be entitled to an
Pedras, Pedrinhas, Pojuca, Rio Pojuca, Tapiranga amount of BRL560mn ($99.86mn), which may
and Tapiranga Norte, located in the municipal- be increased depending upon certain regulatory
The latter company is, the leader and operator ities of Catu, Mata de São João, Pojuca and São and commercial events and conditions.
of the Libra Consortium, which was formed by Sebastião do Passé, in the state of Bahia, where Pursuant to the above-mentioned agreement,
Petrobras, Shell Brasil, Total, CNPC, CNOOC Petrobras holds 100% interest. The average pro- it should be highlighted that Enauta Energia will
Ltd and Pré-sal Petróleo SA (PPSA), for the pre- duction of Rio Ventura Cluster from January to remain receiving the cash flow related to the
salt Mero field, located in the Santos Basin (Bra- June 2020 was approximately 1,050 barrels per Manati field until December 31, 2020.
zil) at 2,100 metres deep. day (bpd) of oil and 33,000 cubic metres per day All the acts necessary for the closing of the
The contract covers engineering, procure- of natural gas. deal, including the payment of the purchase
ment, construction, installation and pre-com- Petrobras, August 23 2020 price, are expected to be carried out until
missioning of the infield rigid riser and flowlines December 31, 2021.
for production, including the water alternate Petrobras releases Enauta, August 18 2020
gas wells. It also comprises the installation and
pre-commissioning of service flexible lines and teaser for onshore
steel tube umbilicals, as well as towing and hook PERFORMANCE
up of the FPSO. Espirito Santo assets
The Company will leverage synergies with the President Energy
Mero 1 project Subsea EPCI, utilising in-house Petrobras has started the opportunity disclosure
rigid and flexible lay vessels and its significant stage (teaser), referring to the sale of all of its announces operational
local footprint in Brazil, including a spoolbase, stakes in a set of five onshore field concessions,
logistics base and engineering capabilities. The with integrated facilities, jointly called the North and corporate update
offshore campaign is scheduled to start in 2022. Capixaba Cluster, located in the state of Espírito
Arnaud Pieton, President Subsea at Tech- Santo. President Energy, the energy company with a
nipFMC, commented: “We are delighted to The teaser, which includes key information diverse portfolio of production and exploration
have been awarded another EPCI contract by about the opportunity, as well as the eligibility assets focused primarily in Argentina, has pro-
the Libra Consortium, which reinforces the criteria for selection of potential participants, vided an operational and corporate update.
long-standing relationship between Petrobras is available on the Petrobras website. The main Highlights: Workover programme now com-
and TechnipFMC. By executing and delivering subsequent stages of the project will be reported menced; water flood pilot now forms part of
this new flagship project, we are looking forward to the market in due course. the workover programme; drilling rig contract
to supporting Petrobras’s ambition in the pre-salt The Cluster, which includes the fields of signed and all on track for spudding by end Sep-
region and contributing to the development of Cancã, Cancã Leste, Fazenda Alegre, Fazenda tember; Paraguay farm-out discussions ongoing;
Brazil.” São Rafael and Fazenda Santa Luzia, is located president forms new renewables division.
TechnipFMC, August 20 2020 in the cities of Linhares, Jaguaré and São Mateus, H2-2020 Drilling and Workovers: The work-
in the state of Espírito Santo. It has 269 wells in over programme referred to in the Company’s
operation, three oil treatment stations, four sat- announcements of June 15 and July 13, 2020,
INVESTMENT ellite stations in Campo de Fazenda Alegre and has now commenced. The programme now
73.81 km of gas and oil pipelines. comprises six wells of which two target generat-
Petrobras announces production facilities contained in the ring fence of gas. Of the next three, one is the pulling of a
The North Capixaba Terminal and all the ing an additional 100,000 cubic metres per day
sale of onshore fields of the five concessions are also part of the Clus- defective pump, one is replacing a beam pump
ter, besides the ownership of some lands. In the with a more efficient electric submersible pump
in Bahia to 3R Petroleum first half of 2020, the average production was (ESP) and one is to repair a leaking packer.
7,000 barrels per day (bpd) of oil and 66,000
The final one in the sequence is a pilot pro-
Petrobras, following up on the release disclosed cubic metres per day of gas. ject for secondary recovery (water flood) at the
on August 26, 2019, has signed with SPE Rio Petrobras holds 100% stake and operates Puesto Flores field.
Ventura S.A., a wholly-owned subsidiary of 3R these fields. Whilst waterflooding is one of the most
Petroleum e Participacoes, a contract for the sale Petrobras, August 23 2020 common pressure maintenance techniques
of its entire interest in eight E&P onshore fields, for enhanced recovery in mature oilfields, this
denominated Rio Ventura Cluster, located in the Enauta agrees sale of its is the first time such has been tried in this field
state of Bahia. and the decision has been made after detailed
The sale amount is $94.2mn, of which (i) stake in the Manati field sub-surface analysis. It will take time to evaluate
$3.8mn paid at this date; (ii) $31.2mn at clos- the results of this project and accordingly a fur-
ing of the transaction; (iii) $16mn will be paid Enauta subsidiary Enauta Energia has executed ther announcement in this regard will be made
in 30 months after closing of the transaction; an agreement for the sale of its entire stake before the end of the year.

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