Petrobras receives US$2.9 billion from Chinese partners for co-participation in Búzios – Money Times

Petrobras
Currently, the Brazilian oil company holds 90% of the exploration and production rights of the excess volume of the transfer of rights in the Búzios field (Image: REUTERS/Pilar Olivares)

THE Petrobras (PETR4The company in relevant fact.

Now, the state-owned company will issue the certificate of payment for the National Agency for Petroleum, Natural Gas and Biofuels (ANP), the last step for the agreement to enter into force on September 1st.

The agreement had already been approved by the ANP earlier this month.

“From the term of the agreement, the companies CNODC and CNOOC have up to 30 calendar days to express interest in exercising the option to purchase an additional portion, of 5% each, in the Production Sharing Agreement of the Transfer of Rights Surplus”, said Petrobras.

Currently, the Brazilian oil company holds 90% of the exploration and production rights of the excess volume of the transfer of rights in the Búzios field, while CNODC and CNOOC hold 5% each.

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