Agreement in principle for offshore Jubarte Field payout
April 18, 2023
The Brazilian National Petroleum Agency (ANP) has approved a proposal to terminate a lawsuit connected to the Petrobras-operated Jubarte oil field in the Parque das Baleias area of the offshore Campos Basin.
Courtesy Petrobras
Offshore staff
RIO DE JANEIRO, Brazil— The Brazilian National Petroleum Agency (ANP) has approved a proposal to terminate a lawsuit connected to the Petrobras-operated Jubarte oil field in the Parque das Baleias area of the offshore Campos Basin.
This related to issues connected to the updating of physical-chemical characteristics of the Jubarte Current and its impact on the re-calculation of government royalties concerning oil produced between August 2009 and February 2011 and December 2012 to February 2015.
The proposal, which still needs ratification from the Ministry of Mines and Energy and the General Counsel of the Union (AGU), involves a payment of R$780 million ($158 million), to be corrected until the date of the initial instalment.
