Sale Process of Iara & Lapa Fields to Total Was Suspended

Source: www.gulfoilandgas.com 11/7/2017, Location: South America

Petrobras, in addition to the press release disclosed on October 17, 2017, informs that yesterday it was suspended by the President of the Federal Regional Court for the 5th Region, the injunction that determined the interruption of the transfer of 22.5% of Petrobras’ stake in the Iara area and the transfer of 35% of Petrobras' stake in Lapa field to Total.

With the favorable decision by said Court, the company may move forward with this sale process, which is part of the Strategic Alliance signed with Total, disclosed in a Material Fact on March 1, 2017.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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