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Disposal of assets and other transactions | 6 Months Ended
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Jun. 30, 2023
Notes and other explanatory information [abstract] |
Disposal of assets and other transactions |
| 23. | Disposal of assets and other transactions
The Company has an active portfolio, which takes into account opportunities of partnerships, acquisition of assets and disposal of non-strategic assets in several areas in which it operates, whose development of transactions also depends on conditions beyond the control of the Company. On April 3, 2023, the Company’s Board of Executive Officers informed that the revision of divestment processes will be carried out within the scope of the adjustments to be made to the Strategic Plan. On June 1, 2023, the Company’s Board of Directors approved the strategic factors to be considered in the 2024-2028 Strategic Plan. The major classes of assets and related liabilities classified as held for sale are shown in the following table:
Schedule of the major classes of assets and related liabilities classified as held for sale |  |  |  |  |
|  |  |  | 06.30.2023 | 12.31.2022
| E&P | RT&M | Corporate and other businesses | Total | Total
Assets classified as held for sale |  |  |  |  |
Inventories | - | 31 | − | 31 | 21
Investments | - | − | − | - | -
Property, plant and equipment | 347 | 23 | − | 370 | 3,587
Others | - | 1 | − | 1 | -
Total | 347 | 55 | − | 402 | 3,608
Liabilities on assets classified as held for sale |  |  |  |  |
Finance debt | - | - | 134 | 134 | 133
Provision for decommissioning costs | 290 | - | - | 290 | 1,332
Total | 290 | − | 134 | 424 | 1,465
| 23.1. | Sales pending closing at June 30, 2023
The assets and liabilities corresponding to the transactions signed in previous periods which are pending closing are classified as held for sale at June 30, 2023:
| i. | sale of the Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) refinery and its associated logistics assets, located in the state of Ceará; and
| ii. | sale of the Company's entire interest in a set of maritime concessions called Golfinho and Camarupim groups of fields, in deep waters of the post-salt layer, located in the Espírito Santo Basin.
For more information on these transactions (which are subject to certain conditions precedent), see note 30.1 of the Company's consolidated financial statements of 2022. From January to June 2023, no new contracts were signed.
| 23.2. | Sales closed in the six-month period ended June 30, 2023
Schedule of the assets and liabilities corresponding to the transactions pending closing are classified as held for sale |  |  |  |  |
Transaction | Acquirer | Signature date (S) Closing date (C) | Sale amount (*) | Gain/ (loss) (**) | Further infor-mation
Sale of its entire interest in Albacora Leste producing field, located in the Campos Basin | Petro Rio Jaguar Petróleo LTDA (PetroRio), a subsidiary of Petro Rio S.A. | April 2022 (S) January 2023 (C) | 1,928 | 557 | a
Sale of the Company's entire interest in a set of four onshore production fields, with integrated facilities, located in the state of Espírito Santo, jointly called Norte Capixaba group of fields | Seacrest Petróleo SPE Norte Capixaba Ltda., a wholly-owned subsidiary of Seacrest Exploração e Produção de Petróleo Ltda. | February 2022 (S) April 2023 (C) | 474 | 342 | b
Sale of the Company's entire interest (100%) in a set of 22 production onshore and shallow water fields, together with their associated infrastructure, located in the Potiguar Basin, in the state of Rio Grande do Norte, jointly called Potiguar group of fields | 3R Potiguar S.A., a wholly-owned subsidiary of 3R Petroleum Óleo e Gás S.A. | January 2022 (S) June 2023 (C) | 1,445 | 464 | c
Total |  |  | 3,847 | 1,363 |
(*) | The amount of "Proceeds from disposal of assets" in the Statement of Cash Flows is composed of amounts received this period, including installments of operations from previous years, and advances referring to operations not completed.
(**) | Recognized in “Results on disposal/write-offs of assets and on remeasurement of investment retained with loss of control” within other income and expenses (note 6).
| a) | Sale of Albacora Leste field
The transaction was closed after the fulfillment of conditions precedent, with the receipt, in cash, of US$ 1,635, including price adjustments provided for in the contract, in addition to US$ 293 received at the transaction signing. In addition, Petrobras is expected to receive up to US$ 250 in contingent payments provided for in the contract, depending on future Brent prices.
| b) | Sale of Norte Capixaba group of fields
The transaction was closed with the receipt of US$ 427, including price adjustments provided for in the contract, in addition to US$ 36 received at the transaction signing. In addition, there is up to US$ 66 in contingent payments for Petrobras provided for in the contract, depending on future Brent prices, of which the Company recognized US$ 11 as a receivable in April 2023.
| c) | Sale of Potiguar group of fields
The transaction was closed with the receipt of US$ 1,100, including price adjustments provided for in the contract, in addition to US$ 110 received at the transaction signing. The Company will also receive US$ 235 in 4 equal annual installments starting March 2024.
| 23.3. | Contingent assets from disposed investments and other transactions
Some disposed assets and other agreements provide for receipts subject to contractual clauses, especially related to the Brent variation in transactions related to E&P assets. The transactions that may generate revenue recognition, accounted for within other income and expenses, are presented below:
Schedule of contingent assets from disposed investments |  |  |  |  |
Transaction | Closing date | Amounts subject to recognition | Assets recognized in 2023 | Assets recognized in previous periods |
Sales in previous years |  |  |  |  |
Riacho da Forquilha group of fields | December 2019 | 62 | 7 | 28 |
Pampo and Enchova group of fields | July 2020 | 650 | − | 180 |
Baúna field | November 2020 | 285 | − | 132 |
Ventura group of fields | July 2021 | 43 | − | 43 |
Miranga group of fields | December 2021 | 85 | − | 55 |
Cricare group of fields | December 2021 | 118 | − | 22 |
Peroá group of fields | August 2022 | 43 | − | 10 |
Papa-Terra field | December 2022 | 90 | 1 | 15 |
Sales in the period |  |  |  |  |
Albacora Leste field | January 2023 | 250 | − | − |
Norte Capixaba group of fields | April 2023 | 66 | 11 | - |
Surplus volume of the Transfer of Rights Agreement |  |  |  |  |
Sepia and Atapu | April 2022 | 5,244 | 25 | 693 |
Total |  |  | 44 | 1,178 |

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