Sale of assets

Our Board of Directors approved the sale of assets to China National Petroleum Corporation (CNPC)

We arrived in Peru in 1996 and hold stakes in exploration assets from north to south in the country, in three different basins: Marañón, Huallaga, and Madre de Dios. We are present in four onshore blocks: three in exploration and one in production. The company produces in Peru in lot X, in a field located in the District of El Alto, Talara basin, northwestern Peru.
The discoveries made in Lot 58, operated by Petrobras, are worthy of note. The Urubamba, Picha and Taini wells hold a volume of contingent (recoverable) resources of 2.0 Tcf (56.6 trillion cubic meters) of natural gas and 113.7 million barrels of condensate, a result of the efforts made to develop the exploration program in the lots where the company operates in the country. Petrobras has a 100 percent interest in this lot, located in the Department of Cuzco, near Camisea.
It is also important to highlight Petrobras' interests in Lot 57, in Peru, where it holds a stake of 46.16 percent.
In November 2013, we signed the documents for the sale of 100% of the shares of our wholly-owned subsidiary Petrobras Energia Peru to China National Petroleum Corporation - CNPC.
The completion of the transaction is subject to certain customary conditions precedent, including approval by the Chinese and Peruvian governments, as well as compliance with the procedures foreseen under the Joint Operating Agreements (JOA), where applicable.




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