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

Uma pessoa reagiu a isso.

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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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

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

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The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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