Petrobras to Transfer Minority Stake in Sergipe's Tartaruga Field

Core Viewpoint - Petrobras S.A. is initiating the divestment of a 25% stake in the Tartaruga field, a non-core asset, as part of its strategy to streamline its portfolio and focus on higher-return assets [1][3]. Group 1: Overview of Tartaruga Field - The Tartaruga field is located in the Sergipe-Alagoas Basin and is operated by SPE Tiêta, controlled by Petrorecôncavo [2]. - Petrobras' production from the Tartaruga field was approximately 41 barrels per day (bpd) of oil and 723 cubic meters per day of associated gas in the first nine months of 2024, representing less than 1% of the total production in the state of Sergipe [2]. Group 2: Impact of the Stake Transfer - The decision to divest the stake is based on the asset being non-core and not generating synergies for Petrobras [3]. - The transfer is expected to have no impact on existing operations or workforce, as it is a non-operated asset with no dedicated employees [4]. Group 3: Future Investments in Sergipe - Petrobras plans to continue significant investments in Sergipe, including the commissioning of two Floating Production Storage and Offloading vessels (FPSOs) with a capacity of 120,000 barrels per day and the construction of a gas pipeline with a capacity of 18 million cubic meters per day [5].