TM-System

Tomáš Michlík DiS.

TM-System - Tomáš Michlík DiS.

Transfer Of Rights Agreement Petrobras

The solution to this problem has been published in the portaria MME 265/2019. The warrant officer will sign a participation agreement, the unification of certain areas and compensation to Petrobras. Petrobras says a Production Sharing Agreement (PSA) for excess quantities is to be signed by September 2021, with the possibility of increasing the share of Chinese companies by an additional 5%. The Warrant Officer must pay Petrobras an amount of compensation for costs already incurred in the area at the time of the participation agreement. In principle, the compensation value is different between the net worth under the 2010 conditions (rights transfer regime) and the present value of the entire field, taking into account the two different contracts (production sharing agreement and rights transfer regime). The ministerial directive provides for compensation of approximately USD 72/bl for oil and USD 5/million Btu for gas. Fitch Solutions says this is higher than its oil and gas price forecast for the next five years, which could inflate compensation due to Petrobras. If the two parties fail to reach an agreement, Brazil`s National Petroleum Agency (ANP) will propose an agreement and if both parties remain at odds, the contract will be terminated. As part of this contract, it was decided that a review of the conditions would be reviewed when Petrobras commercially declared the fields and Petrobras would be the only operator to have 100% stakes without farm rights. For years, a dispute over the terms of this transaction allowed both sides to debate additional compensation, given that these areas contained far more than the $5 billion in exploitable reserves, that all areas were declared market before the oil price fell, and before the petrobra financial problems. .

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Rubrika: Nezařazené