ANP Formalizes Dommo's Exit, and Now Enauta and Barra Energia Dominate BS-4

ANP Formalizes Dommo’s Exit, and Now Enauta and Barra Energia Dominate BS-4

Written by Paulo Nogueira

Published on 20/06/2019 at 21:00

Updated on 20/06/2019 at 21:35

1 person reacted to this.

On This Wednesday, June 19, the ANP Board Granted Enauta, Formerly Queiroz Galvão, Approval for the Compulsory Transfer of Dommo’s Stake, Formerly OGX, in the Atlanta Field, BS-4.

The decision is one of the steps for the formalization of Dommo Energia’s actions for Enauta and Barra Energia, which will each formally hold 50% in the BS-4 contract, where the Atlanta field is located, in the pre-salt of the Santos Basin. For purposes of production and reserves appropriation, the companies already considered Dommo’s exit, based on arbitration decisions from 2018, retroactive to October 2017.

The reason for the compulsory transfer is Dommo’s default in the consortium, which failed to pay its share of the exploration and development expenses of the Atlanta field. At the end of the first quarter of this year, Enauta reported in its results that Dommo’s debt was R$21.6 million for each of the former partners.

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ANP also approved Enauta’s request for the suspension of contracts for blocks FZA-M-90 (Foz do Amazonas) and PAMA-M-265 and PAMA-M-337 (Pará-Maranhão), all from the 11th bidding round, in the Equatorial Margin. The agency’s board agreed with the company’s plea that the projects are delayed due to lack of environmental licensing from Ibama.

With the suspension, the deadline for drilling wells planned in the exploratory program stops running – at least one needs to be drilled in each block.

by epbr

Dommo Seeks Compensation for ‘Financial Losses Caused’ by Petronas

Dommo Energia (DMMO3) filed an arbitration request with the International Chamber of Commerce against Petronas Brasil E&P Ltda.

The information is included in a statement sent to the market this Wednesday, 19, after the trading session.

Dommo stated that the decision is “due to the violations of the terms of the Farmout Agreement signed on May 7, 2013, and the inherent legal provisions.”

The oil company (formerly OGX) reported that it intends to be compensated for all “the financial losses caused by Petronas, considering the use of fraud to avoid the completion of the operation.”

According to the company, English law applies to the dispute, which is pending in Rio de Janeiro.

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ANP Formalizes Dommo’s Exit, and Now Enauta and Barra Energia Dominate BS-4

On This Wednesday, June 19, the ANP Board Granted Enauta, Formerly Queiroz Galvão, Approval for the Compulsory Transfer of Dommo’s Stake, Formerly OGX, in the Atlanta Field, BS-4.

Dommo Seeks Compensation for ‘Financial Losses Caused’ by Petronas

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ANP Formalizes Dommo’s Exit, and Now Enauta and Barra Energia Dominate BS-4

On This Wednesday, June 19, the ANP Board Granted Enauta, Formerly Queiroz Galvão, Approval for the Compulsory Transfer of Dommo’s Stake, Formerly OGX, in the Atlanta Field, BS-4.

Dommo Seeks Compensation for ‘Financial Losses Caused’ by Petronas

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An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

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