Petrobras Receives Payment of R$ 347 Million from Shell Related to the Earnout of Atapu Block for the Fiscal Year 2022

Written by Ruth Rodrigues

Published on 02/02/2023 at 08:02

Foto: André Ribeiro / Agência Petrobras

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The state-owned oil company Petrobras continues to expand its internal cash flow in the natural oil and gas market at the end of January. On Tuesday (01/31), it announced the receipt of R$ 347 million from Shell, referring to the earnout, or complement of firm compensation, for the Atapu Block throughout 2022. The new president Prates also announced new names for the company’s board of directors.

See: Atapu and Sépia Blocks Receive Investments of R$ 204 Billion

Shell’s Payment of R$ 347 Million Guarantees Petrobras a High Revenue Related to the Earnout of the Atapu Block in 2022

Petrobras has been heavily investing in the acquisition and co-participation in exploratory regions of oil and natural gas in Brazil.

The Atapu Block, located in the Santos Basin, is one of the high-value assets in the company’s business portfolio.

ARTICLE CONTINUES BELOW

New Petrobras President Jean Paul Prates Already Has Names for Adjustments to the State Company’s Board of Directors

In addition to the announcement of Shell’s payment regarding the earnout of the Atapu Block, the future of Petrobras’s Board of Directors is also being debated in the current oil and gas scenario.

Petrobras’s new CEO, Jean-Paul Prates, already has names for the company’s board of directors.

In coordination with the Ministry of Mines and Energy (MME), the president of the state is seeking names such as Josué Gomes, Eduardo Moreira, and Suzana Khan for the board.

Gomes is the current president of Fiesp and has chances of assuming the presidency of the board of the state-owned company. Eduardo and Suzana will share the team alongside Gomes in the coming years of Jean Paul Prates’s administration.

Learn More About Shell

Shell has been present in Brazil since 1913. Its main objective is to respond to society’s energy needs today and in the future, acting responsibly in economic, environmental, and social aspects.

The company has around 900 employees in Brazil. Its headquarters is located in downtown Rio de Janeiro and has a lubricants factory on Ilha do Governador.

One of the largest companies in the world in Exploration and Production, Shell faces some of its greatest technological challenges in the Upstream segment.

Petrobras Receives Payment of R$ 347 Million from Shell Related to the Earnout of Atapu Block for the Fiscal Year 2022

See: Atapu and Sépia Blocks Receive Investments of R$ 204 Billion

Shell’s Payment of R$ 347 Million Guarantees Petrobras a High Revenue Related to the Earnout of the Atapu Block in 2022

New Petrobras President Jean Paul Prates Already Has Names for Adjustments to the State Company’s Board of Directors

Learn More About Shell

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Petrobras Receives Payment of R$ 347 Million from Shell Related to the Earnout of Atapu Block for the Fiscal Year 2022

The Company Announced Receiving R$ 347 Million From Oil Company Shell This Week. The Amount Received by Petrobras Is Related to the Complement of Firm Compensation, or Earnout, for the Exercise of the Atapu Block Throughout 2022.

See: Atapu and Sépia Blocks Receive Investments of R$ 204 Billion

Shell’s Payment of R$ 347 Million Guarantees Petrobras a High Revenue Related to the Earnout of the Atapu Block in 2022

New Petrobras President Jean Paul Prates Already Has Names for Adjustments to the State Company’s Board of Directors

Learn More About Shell

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

While a traditional school may take several days just to raise walls, in Malawi a 3D-printed school had its structure ready in 18 hours, welcomed children in June, and showed a new solution to the lack of classrooms.

Goodbye traditional washing machine: Panasonic surprises housewives with the NA-G5 featuring four drums, a 13 kg washer and dryer, a 12 kg dryer, independent mini washers, a heat pump, and a 4-in-1 system awarded at the German Design Award.

While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

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Oil, jobs, and industry: ABESPETRO executive explains why Brazil has not yet reached the development of wealthy countries

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