UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C.
20549
FORM 6-K
Report of Foreign Private
Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange
Act of 1934
For the month of
July, 2021
Commission File Number
1-15106
PETRÓLEO BRASILEIRO
S.A. – PETROBRAS
(Exact name of registrant
as specified in its charter)
Brazilian Petroleum
Corporation – PETROBRAS
(Translation of Registrant's
name into English)
Avenida República
do Chile, 65
20031-912 – Rio de Janeiro, RJ
Federative Republic of Brazil
(Address of principal
executive office)
Indicate by check mark
whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form
40-F _______
Indicate by check mark
whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
Petrobras signs contract for the sale of the
Papa-Terra Field
—
Rio de Janeiro, July 12, 2021 –
Petróleo Brasileiro S.A. – Petrobras, following up on the releases disclosed on 04/17/2020 and 11/24/2020, informs that it
has signed with the company 3R Petroleum Offshore S.A. (3R Offshore) a contract for the sale of the totality of its participation in the
Papa-Terra production field, located in the Campos Basin.
The amount of the sale is US$ 105.6
million, of which (a) US$ 6.0 million paid on the present date; (b) US$ 9.6 million at the closing of the transaction and (c) US$ 90.0
million in contingent payments provided for in the contract, related to production levels of the asset and future oil prices. The amounts
do not consider adjustments due and the closing of the transaction is subject to compliance with precedent conditions such as approval
by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
This disclosure complies with Petrobras’
internal rules and is aligned with the provisions of the special procedure for assignment of rights on exploration, development and production
of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.
This transaction is in line with
the portfolio optimization strategy and the improvement of the company’s capital allocation, increasingly concentrating its resources
in world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years.
About Papa-Terra field
The Papa-Terra field is part of
the BC-20 concession and is located at a water depth of 1,200 m. The field started operating in 2013 and its average production of oil
and gas in 2021, until June, was 17.9 thousand boe/day, through two platforms, P-61 of the TLWP (Tension Leg Wellhead Platform) type and
P-63 of the FPSO (Floating Production Storage and Offloading) type, where all the production is processed.
Petrobras is the operator of the
field, with a 62.5% stake, in partnership with Chevron, which holds the remaining 37.5%.
About 3R Offshore
3R Offshore is a company controlled
by 3R Petroleum Óleo e Gás S.A. (3R Petroleum), a company listed on the Novo Mercado of the Brazilian stock exchange, which
has, among its main shareholders, investment funds managed by Starboard Asset Ltda. (Starboard). 3R Offshore's strategy is to revitalize
mature offshore fields.
www.petrobras.com.br/ir
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
| Investor Relations
email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. República do Chile, 65 – 1803 –
20031-912 – Rio de Janeiro, RJ.
Tel.: 55 (21) 3224-1510/9947 | 0800-282-1540
This document may contain forecasts
within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading
Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes",
"expects", "predicts", "intends", "plans", "projects", "aims", "should,"
and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore,
future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information
included herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 12, 2021
PETRÓLEO BRASILEIRO S.A–PETROBRAS
By: /s/ Rodrigo Araujo Alves
______________________________
Rodrigo Araujo Alves
Chief Financial Officer and Investor Relations
Officer
Petroleo Brasileiro ADR (NYSE:PBR)
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