Jubarte Field Definition Increases Revenue for Espírito Santo and Eases Pressure on Petrobras

Written by Renato Oliveira

Published on 06/04/2019 at 01:00

Updated on 05/04/2019 at 20:27

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Petrobras And ANP Reach Agreement For The Unification Of The Whale Park, In The Capixaba Part Of The Campos Basin And The State Of Espírito Santo Will Have An Increase In Revenue

After five years of talks, Petrobras and ANP signed the agreement that unifies the fields of the Whale Park on Friday (04/05).
With the agreement, the Jubarte field will incorporate the other seven areas of the Whale Park, which are: Baleia Anã, Baleia Azul, Baleia Franca, Cachalote, Caxaréu, Mangangá, Pirambu, and Jubarte. From now on, the field will be called New Jubarte Field.

The agreement is important for Petrobras, as it ensures the oil company an extension of the concession period for the area for another 27 years, and equally important for the government of Espírito Santo, which will receive R$ 3.5 billion, referring to the payment of Special Participation (PE).

ARTICLE CONTINUES BELOW

The Previous Conversations And Attempts

Petrobras had already declared the commerciality of the wells eight times, but in 2014, ANP determined the unification of the discoveries with the Jubarte field, resulting in an increase in the PE charge.
Petrobras, disagreeing with ANP, filed for arbitration, but the process was suspended in July 2018, and since then Petrobras and ANP opened negotiations to reach an agreement, so much so that a public hearing was held in February for discussions.

Now Petrobras holds the concession until 2056 and will be able to revive investment plans in the field, including the installation of an FPSO, which is in the bidding phase.
This FPSO will have the capacity to produce 100,000 bopd and compress 5 million m³/d of gas and is expected to start operating in 2022; currently, other units are already operating in the area.

Regarding the R$ 3.5 billion that the government of Espírito Santo is to receive from PE, Petrobras plans to pay in installments, with the first already established at R$ 1.1 billion.

ANP’s forecast is that the state will receive, with the agreement, R$ 25.8 billion in nominal values by the end of the concession in 2056.

Other cities, besides Vitória, that will also benefit from oil money are Niterói and Maricá, which have even started to save up! click here to read the article!

Jubarte Field Definition Increases Revenue for Espírito Santo and Eases Pressure on Petrobras

Petrobras And ANP Reach Agreement For The Unification Of The Whale Park, In The Capixaba Part Of The Campos Basin And The State Of Espírito Santo Will Have An Increase In Revenue

The Previous Conversations And Attempts

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Jubarte Field Definition Increases Revenue for Espírito Santo and Eases Pressure on Petrobras

Petrobras And ANP Reach Agreement For The Unification Of The Whale Park, In The Capixaba Part Of The Campos Basin And The State Of Espírito Santo Will Have An Increase In Revenue

The Previous Conversations And Attempts

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.

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.

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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