Petrobras On Expression Of Interest In Búzios field

(Petrobras, 29.Sep.2021) — solar power paper side effects lasix oral annie dillard process writing moth essay apa format in text citations three authors chapter 2 thesis citation viagra for sale source url lukoil case study answers see fluoxetine japan go here names of biographies es peligroso tomar la viagra scholarships without essays 2011 cialis generic substitute high school homework help follow url precio viagra 50 mg en espaa wjec biology by5 past papers naukri resume writing services reviews best in class margaret talbot rhetorical strategy essay click here store europe medicamento acovil comprimidos viagra enter site biochemistry research paper follow site Petrobras, following up the release disclosed on 24 August 2021, informs that the partner CNOOC Petroleum Brasil Ltda. expressed interest in exercising the option to purchase an additional share of 5% in the Production Sharing Contract of the Transfer of Rights Surplus, for the Búzios field, in the Santos Basin pre-salt area.

This purchase option was already provided for in the contract signed with the partners in the bidding of the surplus volume to the Transfer of Rights Agreement of the Búzios field, held on 6 November 2019. The company is still waiting for the position of CNODC Brasil Petróleo e Gás Ltda.

The estimated amount to be received by Petrobras in cash at the closing of the transaction for CNOOC’s portion, based on the R$5.42/US$ exchange rate, will be $2.08bn, of which:

(i) $1.45bn for the compensation, subject to the adjustments provided for in the contract, which considers the same effective date of the Búzios Coparticipation Agreement of 1 September 2021 and;

(ii) $0.63bn for the reimbursement of the signature bonus, referring to CNOOC’s additional participation. The amounts will be updated until the closing date of the transaction.

The effectiveness of this transaction is subject to the approvals by the Administrative Council for Economic Defense (CADE), the National Agency of Petroleum, Natural Gas and Biofuels (ANP) and the Ministry of Mines and Energy (MME).

Petrobras’ production curve will only be impacted after the closing of the transaction, with no expected impact on the 2021 production target.