Petrobras Closed Deal Yesterday (October 22) To Pay R$ 559 Million In Royalties For The Shale Industrialization Unit

Of R$ 559 Million in Royalties Agreed with ANP, R$ 302 Million Is Already Provisioned in Petrobras’ Financial Statements

Petrobras announced yesterday (10/22) an agreement with the National Agency for Petroleum, Natural Gas and Biofuels (ANP) related to the collection of royalties, amounting to 559 million reais. In a statement sent to the Securities and Exchange Commission (CVM), the oil company stated that the agreement refers to the collection of royalties on the operation of the Shale Industrialization Unit (SIX), located in São Mateus do Sul (PR).

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The proposal involves the payment in installments totaling R$ 559 million – a value based on June of this year and which should be updated until the contract is signed – of which R$ 302 million is already provisioned in the financial statements for the second quarter.

Payment of the Amount to Be Made by Petrobras Will Conclude Processes Related to the Collection of Shale Royalties

The payment of the amount will be made by the company after the signing of the agreement and will result in the conclusion of all legal and administrative proceedings related to the collection of royalties and administrative fines arising from the extraction of oil shale carried out in the SIX, located in São Mateus do Sul (PR).

“The decision to join the agreement is in line with the risk management policy associated with contingency management and with the strategy of value generation through the negotiation of disputed amounts”, said the state-owned company.

According to the oil company, the terms of the agreement, as well as the draft concession contract, will be submitted to public consultation and hearings by the ANP as a measure of transparency, legitimacy, and legal certainty.