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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petróleo Brasileiro S.A. - Petrobras    PETR4   BRPETRACNPR6

PETRÓLEO BRASILEIRO S.A. - PETROBRAS

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Petróleo Brasileiro S A Petrobras : Result of the 16th ANP Bidding Round

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10/10/2019 | 04:26pm EST

Petrobras reports that it has acquired one offshore block in the 16th ANP Bidding Round under the Concession Regime, held today by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The company is advancing its partnership strategy and will be the operator.

The total amount of the signature bonus to be paid by the company still in 2019 is around R$ 1.432 billion. In addition to the signature bonus, the judgment criteria also considered in the public sale was the Minimum Exploration Program ('MEP') to be applied on the block, expressed in Work Units ('WU') - covering the number of wells to be drilled, and the seismic extension to be employed during the exploratory activity.

As in the previous bidding rounds, Petrobras acted selectively in the auction held today, as a result of its strategic vision to recompose its exploratory portfolio, in which it seeks to ensure the sustainability of its future oil and gas production.

This Campos Basin deep-water block was acquired by Petrobras in partnership with BP Energy do Brasil Ltda. The companies have identified large geological potential in this block, which supports their competitive proposal. The exploratory blocks in the Campos Basin region has been highly competitive in the ANP bidding rounds carried out in 2017 and 2018.

The operation in consortia with major companies is aligned with Petrobras' strategic objective to strengthen partnerships, sharing risks, combining technical and technological skills and capturing synergies to leverage results.

Disclaimer

PETROBRAS - Petróleo Brasileiro SA published this content on 10 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2019 20:25:02 UTC

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Financials (BRL)
Sales 2019 302 B
EBIT 2019 90 783 M
Net income 2019 45 305 M
Debt 2019 297 B
Yield 2019 2,94%
P/E ratio 2019 9,53x
P/E ratio 2020 10,5x
EV / Sales2019 2,33x
EV / Sales2020 1,98x
Capitalization 408 B
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Mean consensus BUY
Number of Analysts 12
Average target price 35,43  BRL
Last Close Price 29,71  BRL
Spread / Highest target 38,0%
Spread / Average Target 19,2%
Spread / Lowest Target 7,71%
EPS Revisions
Managers
NameTitle
Roberto da Cunha Castello Branco Chief Executive Officer & Director
Eduardo Bacellar Leal Ferreira Chairman
Andrea Marques De Almeida Chief Financial & Investor Relations Officer
Rudimar Andreis Lorenzatto Chief Technology & Production Development Officer
Marcelo Filho Director
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ROYAL DUTCH SHELL6.02%238 015
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