Petrobras on Agrarian Demand in Bolivia

Source: www.gulfoilandgas.com 6/17/2021, Location: South America

Petrobras, following up on the release disclosed on 05/28/2021, informs that its wholly-owned subsidiary Petrobras Bolivia S.A. (PEB) was notified of a decision by the Agro-environmental Court of the city of Sucre that annulled a first instance sentence that required PEB to pay US$ 61 million, plus interest and costs, as compensation for the use of property where the San Alberto field facilities are located, in Bolivia.

The Court´s decision pointed out evidence of violation of fundamental rights and constitutional guarantees of PEB in the first instance sentence and annulled all acts since the beginning of the lawsuit, highlighting the absence of demonstration of ownership of the area by the plaintiff. The sentence also extinguishes the precautionary measures previously applied, imposes a fine on the first instance judge, and determines that the local Magistrates' Council be notified.

The Agro-environmental Court decision reinforces the company's trust in Bolivian institutions, where it has been operating for 25 years, always respecting the law and the communities.

The San Alberto block is operated by PEB with a 35% stake, in partnership with YPFB Andina S.A. (50%) and Total E&P Sucursal Bolivia (15%).


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