Petrobras Concludes Transfer of Interest in Búzios

Source: www.gulfoilandgas.com 11/30/2022, Location: South America

Petrobras, following up on the releases disclosed on 09/29/2021, 10/04/2021, 03/04/2022 and 11/24/2022 informs that it concluded today the assignment of 5% of its interest in the Production Sharing Contract of the Surplus Volume of the Transfer of Rights, for the Búzios field, in the pre-salt of Santos Basin, to the partner CNOOC Petroleum Brasil Ltda. The Production Sharing Contract Amendment Term was signed today by the Ministry of Mines and Energy, putting the transaction into effect.

The agreement results from the option to purchase an additional portion, exercised by CPBL on 09/29/2021 and the amount related to the transaction was received by Petrobras on 11/24/2022, according to the previous announcement.

As of 12/01/2022, Petrobras will hold 85% stakes in the Production Sharing Contract for the Surplus Volume of the Transfer of Rights of the Búzios field, while CPBL will hold 10% and CNODC Brasil Petróleo e Gás Ltda (CNODC), 5%. The stakes in the Búzios Shared Reservoir, including the portions of the Transfer of Rights Agreement and the BS-500 Concession Agreement (100% Petrobras) will be 88.99% Petrobras', 7.34% CPBL's and 3.67% CNODC's.


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