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Petrobras on mothballing

of the Merluza platform

Petrobras hereby announces that the Executive
Board approved the mothballing of the Merluza
platform (PMLZ-1), located in shallow waters
in the Santos Basin. The platform’s production
had already been interrupted since March 2020,
with the abrupt of demand for natural gas, and
the deactivation will allow the reduction of oper-
ating expenses and the transfer of professionals
to other Petrobras units.
The deactivation will not impact the divest-
ment process of the Merluza Complex and the
supply of natural gas to the Santos’ coastal area
market.
The Merluza Complex is composed of the
Merluza and Lagosta concessions, in which when production had reached 287,000 cubic disclosed on June 29, 2020, informs the begin-
Petrobras holds an iterest of 100%. With the metres. ning of the binding phase, referring to the sale of
beginning of operations in 1993, its average pro- In addition to the record production, the its entire stake in the Tartaruga field, belonging
duction totaled 3,600 barrels of oil equivalent refinery achieved its best monthly domestic sales to the SES-107D concession, located in shallow
per day (boepd) of natural gas and condensate for the S-10 Diesel. waters of the Sergipe-Alagoas Basin.
in 2019. Of Replan’s total sales, 237,000 cubic metres Potential buyers qualified for this phase will
The Merluza and Lagosta fields are currently went to the regional market, while the rest was receive a process letter with detailed instructions
in a binding phase for divestment, as announced destined through pipelines to serve other states. on the divestment process, including guidelines
on March 31, 2020. The previous record was 213,000 cubic metres, for due diligence and the submission of binding
Petrobras, August 07 2020 in October 2014. proposals.
The local sales record for the S-10 Diesel Tartaruga field, belonging to the Concession
reflects the efforts to direct market consumption SES-107D, is located on the northern coast of the
DOWNSTREAM for this product, which has the lowest amount state of Sergipe, in the municipality of Pirambu,
of sulphur, in replacement of the S-500 Diesel, in shallow waters of the Sergipe-Alagoas Basin.
Petrobras on record S-10 used only by vehicles manufactured until 2011. The field wells were drilled directly (from
July 2020 was the first time in which sales for the onshore to offshore), from the base located in
Diesel and asphalt sales S-10 Diesel exceeded the S-500 Diesel at Replan, the onshore portion of the ring-fence.
The field´s average production from January
representing 51.9% of the total diesel sales at the
Petrobras hereby announces that it achieved refinery. to June 2020 was approximately 609.76 bpd of
record sales for the S-10 Diesel in the Brazil- From January to July 2020, Replan’s asphalt light oil (37 degrees API).
ian market. The Company sold 1.78mn cubic production reached 183,700 tonnes, the highest Petrobras holds a 25% stake in the field and
metres, 12.7% higher than the previous record amount in the last five years for this seven-month Maha Energy Brasil is the operator, with a 75%
in July 2019, when sales reached 1.58 mcm. period, and up by 108% over the same period in stake.
The sales record for the S-10 Diesel reflects 2019. Petrobras, August 07 2020
the rapid commercial actions implemented Asphalt production in July 2020 reached
to mitigate the effects of the pandemic on fuel 34,400 tonnes, 49% higher than July 2019. This Petrobras starts binding
demand and efforts to directing the market was also the highest volume registered for the
towards a product with the lowest amount of month of July in the last five years. The asphalt phase in the Camamu Basin
sulphur, replacing the S-500 Diesel. produced by Replan is CAP 30/45, one of the
In July 2020, Petrobras’ asphalt sales also refinery’s highest value-added products. Petrobras, following up on the release disclosed
reached a record high, totaling 227,000 tonnes, Petrobras, August 07 2020 on June 1, 2020, announces the beginning of
the highest monthly volume since September the binding phase regarding the sale of its stake
2016. (35%) in the Manati field, a shallow water off-
Asphalt sales from January to July 2020 INVESTMENT shore production located in the Camamu Basin,
totaled 1.16mn tons, representing the best result in the state of Bahia.
in the last four years for this period and a 33% Petrobras starts Potential buyers qualified for this phase will
growth over the first seven months of 2019. receive a process letter with detailed instructions
The Paulínia refinery (Replan), located in the binding phase in the on the divestment process, including guidelines
state of São Paulo, broke the S-10 Diesel produc- for due diligence and the submission of binding
tion record for the second consecutive month. Sergipe-Alagoas Basin proposals.
In July, the refinery reached the 350,000 cubic The main subsequent stages of the project will
metre mark, 22% higher than the record in June, Petrobras, following up on the press release be informed in due course to the market.

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