In August, Petrobras disbursed R$950 million to Petros, referring to the full amount of the agreement, on the arbitration dispute related to the investment in Sete Brasil.

Petrobras announced in a material fact last night (17/12) that it will pay R$ 190 million to the Previ fund, from Banco do Brasil, to finalize the arbitration dispute over the losses related to Sete Brasil. 3R Petroleum acquires 14 Petrobras onshore oil fields in Bahia

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"The value is reflected in the company's financial statements for the 3rd quarter of 2020", says Petrobras. “The company remains in defense of its interests in the ongoing processes”, he concludes.

The state-owned company paid R$ 190 million to Previ. According to Petrobras, the agreement extinguishes the dispute without acknowledgment of guilt or responsibility by both parties and its terms and the arbitration process are protected by confidentiality”, adds the statement.

In August, Petrobras disbursed R$950 million to Foundation Petrobras de Seguridade Social (Petros), referring to the full amount of the agreement entered into with the recipient, on the arbitration dispute related to the investment in Sete Brasil.

Remember the case Petrobras x Petros x Sete Brasil

In 2006, after the pre-salt discovery, Petrobras verified that there were not enough drilling units to meet the exploration demand.

For this, it was necessary for someone to be willing to build probes, assuming the risks. Thus came Sete Brasil, which would initially be responsible for building seven rigs, out of a total of 28.

However, Sete Brasil ended up being hired to build the 28, divided into two stages.

The Petros, Funcef, Previ and Valia pension funds should make contributions to the company between 2011 and 2019, through the FIP Sondas, a fund created for this purpose.

In 2015, still at the height of Lava-Jato, Petros reported that “the investment in Sete Brasil was carried out in compliance with all the technical criteria of corporate governance and the guidelines of the investment policy”.

“From the perspective of long-term results, the investment proved to be, at the time, a good investment opportunity to guarantee the sustainability of the business and the payment of benefits on time”, he explained.