Petrobras on Court os Justice decision

Source: www.gulfoilandgas.com 3/31/2022, Location: South America

Petrobras informs that the Court of Justice of Rio de Janeiro (TJ-RJ) decided, by majority vote, to grant the appeal of the company Paragon Offshore Nederland B.V., former supplier of rigs for oil and gas prospection.

The estimated value of the lawsuit is R$ 1.9 billion of which R$ 59 million have been provisioned and the remaining amount is classified as a possible loss in note 18.3 of the 2021 Financial Statements.

Petrobras will file the appropriate appeals against this decision and informs that there was no change in the expected loss.

Facts deemed relevant about this process will be timely disclosed to the market.


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