Vale SA informs that it has signed a memorandum of understanding with Petróleo Brasileiro SA to give Vale the exclusive right of acquisition of 25% of partnership in three blocks located at the area BM-ES-22, in the Brazilian state of Espirito Santo.

The assignment of rights will be submitted to the approval of the Brazilian oil and gas regulator agency Agência Nacional do Petróleo Gás Natural e Biocombustíveis.

The exploration of natural gas is part of Vale’s strategy of diversification and optimization of its energy matrix.