Cade aprova venda de participação em bloco no Espírito Santo da Equinor para Petrobras

Cade Approves Block Stake Sale in Espírito Santo from Equinor to Petrobras

Written by Roberta Souza

Published on 07/05/2020 at 14:45

petrobras, equinor, cade, espírito santo

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The Negotiated Share, Equating to 40% of Block ES-M-673, Was Sold by Equinor to Petrobras and Approved by Cade

Cade (Administrative Council for Economic Defense), through its General Superintendence, approved the sale of Equinor’s participation in block ES-M-673 to Petrobras. The share is located in the Espírito Santo Basin.

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To be fully realized, the deal depends on the approval of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). However, the Council’s superintendence found that there are impediments and that the deal will not affect the oil and gas extraction market, ensuring competitiveness with other companies in the sector.

Petrobras already held 40% of the block and now holds 80%. The remaining 20% belongs to the company Enauta.

The block ES-M-673 in question is still in the exploratory phase. According to Cade, “At this stage, it is not possible to estimate the impact that a particular concession will have on the national or global market for oil and natural gas, as it cannot even be said that the exploration of the concession will result in the discovery of oil and natural gas in commercially viable volumes that justify its development and consequent commercialization.”

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Cade Approves Block Stake Sale in Espírito Santo from Equinor to Petrobras

The Negotiated Share, Equating to 40% of Block ES-M-673, Was Sold by Equinor to Petrobras and Approved by Cade

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Cade Approves Block Stake Sale in Espírito Santo from Equinor to Petrobras

The Negotiated Share, Equating to 40% of Block ES-M-673, Was Sold by Equinor to Petrobras and Approved by Cade

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Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

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