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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
não cumprimento de obrigação contratual, não pagamento, inadimplemento contratual
Centro Empresarial Senado (Edisen) Foto: André Motta de Souza / Agência Petrobras – Todos os direitos: Petrobrás
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© 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.

It is important to emphasize that the breach of contractual obligation, also known as contractual default, requires the company’s due attention, which is committed to the timely disclosure of facts deemed relevant, ensuring total transparency and clarity for its shareholders and other interested parties.

Source: Agência Petrobrás

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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