Petrobras Pays R$ 832.4 Million in Royalties and Special Contributions to ANP and Settles Longstanding Legal Dispute Over Oil Production in Jubarte Field

Written by Ruth Rodrigues

Published on 07/02/2024 at 21:10

Foto: Petrobras/Divulgação

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Petrobras and ANP Reached an Agreement on the Jubarte Field, Ending a Legal Dispute That Had Lasted Since 2016. The Agreement Provides for the Payment of R$ 832.4 Million Related to Oil Production in the Field Between 2009 and 2015. The Amount Will Be Paid in 49 Installments and Adjusted by the SELIC Rate.

Petrobras announced a historic agreement with the National Agency of Petroleum, Natural Gas and Biofuels (ANP), aiming to conclude a lengthy legal process related to the Jubarte Field. The agreement involves a significant payment of R$ 832.4 million in royalties and special participations, related to oil production in the field during the period from 2009 to 2015.

Historic Agreement Between Petrobras and ANP

The process began in 2016 and involved a meticulous recalculation of government participations related to oil production in the Campos Basin.

The region, known for its strategic importance in oil exploration, was the stage for a dispute that may now come to an end with the agreement reached between Petrobras and ANP.

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The Legal Process Regarding the Jubarte Field

The agreement, which represents a milestone in resolving disputes in the oil sector, is pending approval in the 23rd Federal Court of the Judicial Section of Rio de Janeiro.

According to the terms of the agreement, Petrobras will make an initial payment corresponding to 35% of the total amount, followed by 48 remaining installments, all adjusted by the SELIC rate.

As stipulated, the first installment will be made 30 days after the agreement is approved, providing a smooth transition for both parties involved.

This outcome represents not only the end of a long-standing legal dispute but also highlights Petrobras’s willingness to collaborate transparently and effectively with the regulatory authorities in the sector.

The agreement contributes to stability and legal certainty in the Brazilian oil scenario, strengthening the trust between the involved parties.

Get to Know the Campos Basin

Source: EPBR

Petrobras Pays R$ 832.4 Million in Royalties and Special Contributions to ANP and Settles Longstanding Legal Dispute Over Oil Production in Jubarte Field

Historic Agreement Between Petrobras and ANP

The Legal Process Regarding the Jubarte Field

Get to Know the Campos Basin

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Petrobras Pays R$ 832.4 Million in Royalties and Special Contributions to ANP and Settles Longstanding Legal Dispute Over Oil Production in Jubarte Field

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