August 14, 2017

Petrobras won the lawsuit against the injunction of Schahin Engenharia and Deep Black Drilling, both in judicial recovery. The 5th Federal Court of Brasilia revoked a precautionary measure and dismissed the request for injunction against an act of Petrobras’ directors that determined the termination of a lease agreement with the resumption or removal of the Vitoria 10,000, located in Macaé. With this decision, Petrobras is authorized to proceed with the resumption of the vessel. The possession and ownership of the property was also guaranteed to Petrobras.

According to Schahin’s own opinion, due to the agreement of Awarded Deliberation on the part of its partners, in the context of the Operation Lava Jeto, it was declared the practice of acts of bribery / active and passive corruption, as regards the contract whose object involves the ship -Vitoria 10,000. Another important point of the decision: “The nullity of the international contract for the lease of the Vitoria 10,000 vessel is intertwined with the dynamics of receiving bribes by the petitioners. It therefore involves structural issues of the execution of the concession act, the modus operandi, of the company’s own behavior in order to attract the conclusion of the contracts with Petrobrás. “This legal dispute weighed on the second quarter’s result of the oil company, which had to make provisions for losses in the amount of R $ 818 million in the balance sheet. There was a reduction in operating expenses, despite the adhesion to the Federal Tax Regularization Programs and the provision. The provision weighed on E & P’s operating income, which closed at R $ 9.888 billion in the second quarter, still more than three times higher than in the same period of last year. The intention of Petrobras, which had a contract for which it received the financial lease of Schahin was to assume the drillship and hire a new company to operate.

Schahin issued the following note: “BASE informs that it is aware of the judicial decision authorizing Petrobras to take the Vitoria 10,000 vessel. It clarifies, however, that it will appeal and waits for the court to return the asset to the company so that it can honor the commitments with the creditors of its judicial recovery. The BASE reiterates that there was no bad faith and that it was not informed in advance of the injunction. “

Categories: Petrobras

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