We have completed the sale of Petrobras Argentina

 We have completed the sale of our entire 67.19 percent interest in Petrobras Argentina (PESA), owned via Petrobras Participaciones S.L. (PPSL), to Pampa Energía. 

The operation was completed with the payment of $897 million by Pampa, made on Wednesday (07/27), after all conditions precedent stipulated in the contract signed on 05/13/2016 were fulfilled.

In addition, the transaction provides for contingent payments related to future events, such as concession renewals. It also includes an agreement for subsequent operations, aiming at the acquisition, by Petrobras, of 33.6 percent of the concession of Rio Neuquen, in Argentina, and 100 percent of the Colpa Caranda asset, in Bolivia, for a total of $52 million, subject to approval by PESA’s Board of Directors.
This transaction, conducted through a competitive process, is an important part of Petrobras’ 2015-2016 Divestment Plan.

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