May 19, 2024

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Petrobras (PETR4) signs $2 billion contract to transfer 5% of pre-salt field - Money Times

Petrobras (PETR4) signs $2 billion contract to transfer 5% of pre-salt field – Money Times

The contract is valued at $2.12 billion and has a base date of September 1, 2021 (Photo: REUTERS/Sergio Moraes)

The Petrobras (PETR4) Signing a contract with CPBL indicating the assignment of 5% of its stake in the contract to co-produce the over-volume transfer of rights, in order Buzios, in the Santos Basin before the salt. The information was disclosed in a document sent to the market on Friday (4).

The contract value was set at $2.12 billion and was calculated on the basis of September 1, 2021, when the exchange rate was R$5.07/US$.

This amount refers to the compensation and reimbursement of the signing bonus for the additional participation of the CPBL. The company said the above amount would still be subject to the usual adjustments in this type of contract between the base date and the closing date.

The oil company also said that the deal is subject to the approval of the Economic Defense Administrative Council (where), from the National Agency for Petroleum, Natural Gas and Biofuels (ANNP) and the Ministry of Mines and Energy.

Petrobras also commented that it now owns 85% of the production sharing contract for the over-volume transfer of rights in the Búzios field, while CPBL will own 10% and CNODC Brasil Petróleo e Gás Ltda, 5%.

“The interests in the Búzios Joint Deposit, including the premiums of the onerous assignment agreement and the BS-500 concession agreement (100% Petrobras), will be 88.99% of Petrobras, 7.34% of CPBL and 3,67% of CNODC,” the company concludes.

See the document:

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