Potential Agreement With Federal Government May Unlock Round of Pre-Salt Presenting Surplus Volumes
Petrobras admitted it may receive a credit of approximately US $ 14 billion under a long-awaited review of the rights transfer agreement covering six fields in the pre-salt province of the Santos Basin. In a statement released on Tuesday, Petrobras stated that the 14 billion dollar credit is one of many scenarios analyzed by the country’s federal audit court, the TCU, following a long negotiation process between the federal government and the oil company.
The local news agency Valor PRO had foreseen the information on Monday afternoon, leading to a surge in Petrobras’ stock prices.
After rising more than 3% on Monday, shares increased nearly 1% at the start of trading on the Brazilian stock exchange on Tuesday.
-
Scientists discover unexpected climate benefit hidden in forest soils related to atmospheric methane absorption.
-
Sandy unproductive land can become a highly profitable area with a simple technique that boosts soybeans and corn to over 100 sacks.
-
The new Kia hatch will have a range of up to 480 km, may cost up to 25,000 euros (around R$ 150,000), and promises to become one of the most affordable electric cars in Europe; meet the Kia Picanto Electric.
-
Viih Tube, former BBB contestant and millionaire, lives in a mansion worth R$ 8.5 million with a heated artificial lake, two cinemas, a complete spa, and a giant playroom of 120 m² for the couple’s children.
The new Minister of Mines and Energy of Brazil, Bento Albuquerque, said last week that the government was hopeful of reaching an understanding on the rights transfer within the next 100 days.
A potential conclusion regarding the amount to be paid to Petrobras, which is still pending analysis by the TCU and approval from the National Energy Policy Council, as well as from Petrobras’ directors and supervisors, could finally unlock the pre-salt coverage, surplus volumes in the rights transfer area.
The auction, which could raise up to 100 billion reais (US $ 26.9 billion) for the government just from signing bonuses, will offer surpluses in areas that were transferred to Petrobras in September 2010 under an intricate oil-for-shares mechanism that provided leverage for the government to increase its stake in the state-controlled company.
Upcoming Assets That Will Begin Production From Now On
In return, Petrobras, now led by CEO Roberto Castello Branco, gained the right to produce 5 billion barrels of oil equivalent from the pre-salt fields of Búzios, Atapu, Sépia, Itapu, South of Lula, and South of Sapinhoá.
However, these fields hold much more than this value in recoverable reserves and the surplus volumes would be offered to investors in a mega auction planned for this year.
Separate studies published by the consultancies Gaffney Cline & Associates and DeGolyer & MacNaughton indicate that the six fields hold between 9.8 billion and 15.2 billion boe beyond the 5 billion boe initial floor granted to Petrobras.

Seja o primeiro a reagir!