CNOOC to Increase its Stake in the Búzios field

Source: www.gulfoilandgas.com 11/24/2022, Location: South America

Petrobras, following up on the releases of 09/29/2021, 10/04/2021 and 03/04/2022, informs that it has received today the amount of R$ 10.3 billion, equivalent to US$ 1.9 billion by the PTAX exchange rate of 11/24/2022, related to the assignment of 5% of its participation 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 amount already includes the foreseen adjustments in the contract, after all precedent conditions were met.

The conclusion of the transaction is subject to the signature of the Production Sharing Contract Amendment Term by the Ministry of Mines and Energy (MME).

After the transaction is effective, Petrobras will hold an 85% stake in the Production Sharing Contract of 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 Deposit, 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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