Petrobras Reveals Noncompliance With Contractual Obligation at Carmópolis Field – Notice of Contract Breach

Written by Paulo Nogueira Published on 26/12/2023 at 10:21

Centro Empresarial Senado (Edisen) Foto: André Motta de Souza / Agência Petrobras – Todos os direitos: Petrobrás

© 2023 – Relevant Fact: Closing of the Transaction of a Set of 11 Land Concessions with Guarantor. Adjustments and Amounts Due According to Contractual Measures.

Petrobras, in continuation of the relevant fact disclosed on 12/20/2022, informs of the breach of contractual payment obligation by Carmo Energy and its controller Cobra Instalaciones y Servicios, S.A., as guarantor, related to the sale of all its shares in the set of 11 land concessions for oil and gas production, with integrated facilities, located in the state of Sergipe, collectively referred to as Polo Carmópolis.

In the event of non-payment, Petrobras informed that the sale amount was US$ 1.1 billion, with: (i) US$ 275 million paid as a down payment; (ii) US$ 548 million paid on 12/20/2022, the closing date of the transaction considering the amounts due; and (iii) US$ 296 million due to be paid on 12/20/2023, also considering the amounts due.

Actions by Petrobras in Light of Contractual Obligation Breach

Due to the breach of contractual obligation by the guarantor, Petrobras will take the necessary contractual and legal measures to ensure the payment of the amounts due, related to the closing of the transaction involving the set of 11 land concessions.

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Petrobras Reveals Noncompliance With Contractual Obligation at Carmópolis Field – Notice of Contract Breach

© 2023 – Relevant Fact: Closing of the Transaction of a Set of 11 Land Concessions with Guarantor. Adjustments and Amounts Due According to Contractual Measures.

Actions by Petrobras in Light of Contractual Obligation Breach

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Petrobras Reveals Noncompliance With Contractual Obligation at Carmópolis Field – Notice of Contract Breach

© 2023 – Relevant Fact: Closing of the Transaction of a Set of 11 Land Concessions with Guarantor. Adjustments and Amounts Due According to Contractual Measures.

Actions by Petrobras in Light of Contractual Obligation Breach

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Júlia Pimentel, an 11-year-old from Minas Gerais, independently invented a new formula to calculate the square root using simple addition and multiplication, and her method was published in one of the most important mathematical scientific journals in Brazil.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Without her own home and pressured by rent, a 25-year-old bought a small 15-meter boat, gradually renovated the interior by herself, transformed the interior with paint, new flooring, a larger bathroom, and started living on the canals, paying much less per month.

Heir bought 23,000 degraded acres in the Scottish Highlands, fenced the area, planted nearly 1 million native trees, and transformed empty mountains into a forest officially recognized after meeting 15 evaluation criteria over 20 years.

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