RIO DE JANEIRO, Brazil — Petrobras has signed an agreement with Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) to terminate a lawsuit.
This concerned a recalculation of government take related to oil production in the Jubarte Field in the offshore Campos Basin from August 2009 to February 2011, and from December 2012 to February 2015.
The agreement ends a dispute that has been ongoing since February 2016.
Terms include a payment of R$832.4 million ($167.75 million), updated to December 2023, adjustable up to the date of payment of the initial installment. The parties plan to submit this arrangement for ratification by the 23rd Federal Court of the Judicial Section of Rio de Janeiro, with the first sum to be paid within 30 days of the court ratifying the agreement.
