Petrobras and Total announce today that they have finalized a decisive milestone in the realization of their Strategic Alliance, signed in March 2017, with the completion of the following transactions:
- Transfer from Petrobras to Total of 35% of the rights, as well as the operatorship, of the Lapa field in Block BM-S-9A in the Santos Basin pre-salt, alongside Shell (30%), Repsol-Sinopec (25%) and Petrobras (10%). The Lapa field was put in production in December 2016, via the 100,000 barrel per day capacity Cidade de Caraguatatuba FPSO.
- Transfer from Petrobras to Total of 22.5% of the rights of the Iara area, which comprises the Sururu, Berbigão and Oeste de Atapu fields in Block BM-S-11A in the Santos Basin pre-salt, operated by Petrobras (42.5%) alongside Shell (25%) and Petrogal (10%). Production in Iara is expected to start in 2018 through the 150,000 barrel per day capacity P-68 FPSO in Berbigão-Sururu fields, which will be followed by a second FPSO in 2019 in the Atapu field. (...)
Petrobras announces that it has signed an agreement in principle to settle the securities class action lawsuit filed in the United States District Court for the Southern District of New York (“SDNY”).
The agreement, which is subject to approval by the court, is intended to resolve all pending and prospective claims by purchasers of Petrobras securities in the United States and by purchasers of Petrobras securities that are listed for trading in the United States. It eliminates the risk of an adverse judgment which, as Petrobras has previously reported, could have a material adverse effect on the company and its financial situation, and puts an end to the uncertainties, burdens and costs of protracted litigation.
Petrobras, the Libra Consortium operator, announces that it signed, on November 14th, a contract with the Modec group to charter a FPSO platform (a Floating Production Storage and Offloading unit), the first definitive production system of Mero Field, which will be used in the Mero Pilot project. The project includes the interconnection of up to 17 wells to the platform and the start of the production is planned for 2021.