Petrobras Expresses Interest on the Transfer of Rights Surplus Bidding Round

Source: www.gulfoilandgas.com 5/21/2019, Location: South America

Petrobras expressed interest to the National Council for Energy Policy (CNPE) to exercise the pre-emption right on the Transfer of Rights surplus bidding round under the production sharing regime, pursuant to Brazilian Law 12.351/2010 and Federal Decree 9.041/2017.

The Executive Board approved the pre-emption right exercise in the areas Buzios and Itapu under development, with a 30% participating interest, considering the parameters disclosed in CNPE Resolution No. 08 of May 9, 2019, and in the Ministry of Mines and Energy (MME) Ordinance No. 213 of April 23, 2019.

Petrobras may also increase its minimum interest of 30%, on the date of the auction, in the areas in which it exercised its pre-emption right.

In relation to the areas in which Petrobras has not exercised its pre-emption right, the company may participate on an equal basis with other bidders, whether acting as operator or non-operator.

The amount corresponding to the signature bonus to be paid is R$ 20,988 million, considering the confirmation of the participating interest indicated above.

In line with the determination of the Board of Directors, at a meeting held yesterday, Petrobras reiterates that the execution of the amendment to the Transfer of Rights Agreement must occur before the excess volumes auction and subject to conditions already disclosed to the market today regarding this matter.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


New Zealand >>  7/5/2022 - OSM Maritime (OSM) would pleased to announce that Kingston Offshore Services, a New Zealand-based provider of oil and gas and offshore marine services...
Sweden >>  7/5/2022 - Eolus has signed an agreement with DalaVind AB to expand its participating interest in the Fageråsen wind power project to 49%. Together, the companie...

United States >>  7/5/2022 - Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP, two privately held companies ("Stronghold"), have announced that Ring Ener...
Ethiopia >>  7/4/2022 - Yara has signed a Share Purchase Agreement with XLR Enterprises Limited to sell its ownership interest in the Dallol mining project in Ethiopia. The D...

Nigeria >>  7/1/2022 - ADM Energy PLC, a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil fie...
Norway >>  7/1/2022 - Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology...

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

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


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.