Petrobras today annunced the beginning of the non-binding phase regarding the sale of the entire 20% stake held by its subsidiary Petrobras America Inc. (PAI) in the company MP Gulf of Mexico, LLC. (MPGoM), located in Texas, USA, which owns offshore fields in the Gulf of Mexico.

Potential buyers qualified for this phase will receive a process letter containing detailed information about the aforementioned company, in addition to instructions on the divestment process, including guidelines for the preparation and submission of non-binding proposals.

About MPGoM

It is a Joint Venture Company with an 80% stake from Murphy Exploration & Production Company and 20% from PAI, created in October 2018, with the contribution of all oil and natural gas assets in production, located in the Gulf of Mexico, of both companies.

MPGoM holds participation as operator or non-operator in 14 offshore fields in the Gulf of Mexico. Petrobras' share of the fields' production in 2021 was 10,4 thousand bpd of oil equivalent.