Million-Dollar Contract: OTZ Engenharia Assists Petrobras in Legal Proceedings

Written by Junior Aguiar

Published on 10/06/2022 at 13:49

Updated on 10/06/2022 at 14:01

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Accounting Consultancy Must Oversee Legal Actions Involving the State-Owned Company and Issue Reports on Productivity and Possible Financial Losses

The accounting consultancy firm OTZ Engenharia and Petrobras signed a contract worth exactly R$ 11,898,733.53 for the provision of legal process analysis services in which the state-owned company is a party. The objective is to prepare reports on the productivity and possible financial losses of the oil company, pointing out errors in calculation memorials, taxes, and charges in the processes.

The contract between OTZ Engenharia and Petrobras, through the Executive Management of Surface Systems, Refining, Gas, and Energy, linked to the Production Development Board, started in early May and will last until April 2027. During this period, consultancy will be available to the state-owned company, with a pre-established agreement between the parties for the conclusion of each process.

Upon presentation of a demand by Petrobras, OTZ Engenharia will have 5 days to familiarize itself with the process, up to 10 days for calculations, and 20 days to issue technical opinions (reports) on productivity loss, as well as analyses of service timeline delays.

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The Agreement in Practice

The technicians from OTZ Engenharia will conduct field visits at the projects owned by Petrobras to better understand the requests made by the state-owned company. Thus, the justification for the preparation of each item should be indicated and the intended objective with its formulation, substantiating a specific claim.

The consultancy must prepare regular or supplementary technical items, using clear and objective language, to equip the experts of the courts where the legal processes involving Petrobras are being processed, pointing out weaknesses of the opposing party.

Petrobras Requires That Activities Performed by OTZ Engenharia Be Carried Out by Teams with Experience in Legal Processes

The contract stipulates that OTZ must always size a team of experienced professionals to address all requests made by Petrobras concerning technical engineering and accounting assistance.

Due to the complexity of the services, the agreement provides that it is essential for leadership to have at least 5 years of proven experience in technical engineering and accounting assistance, analytical budgeting (which details the unit price of labor, materials, contracting, funds, and equipment), issuing technical opinions on productivity loss and analyses of delays in the schedule.

The professional acting as the lead engineering assistant must have participated for at least 5 years in arbitration or judicial disputes as a technical engineering assistant for one of the parties; as a technical assistant to the engineering expert, or as a designated engineering expert in at least 4 arbitration or judicial processes involving industrial or infrastructure works totaling over R$ 50,000,000.00.

The professional acting as the lead accounting assistant must have experience as an expert or technical assistant or arbitrator in at least arbitration or judicial processes also involving industrial or infrastructure works with values exceeding R$ 50,000,000.00 for each process.

It is worth noting that Petrobras may not require OTZ Engenharia to execute all the services described in the contract. The contracted consultancy will not be paid if any service is performed without the request from the state-owned company.

Million-Dollar Contract: OTZ Engenharia Assists Petrobras in Legal Proceedings

Accounting Consultancy Must Oversee Legal Actions Involving the State-Owned Company and Issue Reports on Productivity and Possible Financial Losses

The Agreement in Practice

Petrobras Requires That Activities Performed by OTZ Engenharia Be Carried Out by Teams with Experience in Legal Processes

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Million-Dollar Contract: OTZ Engenharia Assists Petrobras in Legal Proceedings

Accounting Consultancy Must Oversee Legal Actions Involving the State-Owned Company and Issue Reports on Productivity and Possible Financial Losses

The Agreement in Practice

Petrobras Requires That Activities Performed by OTZ Engenharia Be Carried Out by Teams with Experience in Legal Processes

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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.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

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.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

For the first time, scientists have mapped the Etna magma system in almost real time and discovered where the volcano was storing large volumes of molten material before years of eruptions, revealing an underground reservoir that fills and reorganizes like a living organism beneath the mountain.

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