Proposal for the dispute for Parque das Baleias

parque-das-baleias-es

Dec 26, 2018

The ANP has put in public consultation the proposal of an agreement with Petrobras to close the dispute about the unification of fields of Parque das Baleias into a single asset, in this case, Jubarte. At stake is the payment of special participations (SP’s), which will be higher if several of the fields are considered as one. It is the first time that a decision of this type is proposed through consultation and public hearing. The consultation goes until 8/2 and the hearing is scheduled for 2/2.

Agreement

The ANP’s proposal includes a commitment to renew with Petrobras the concession of the new Jubarte field for 27 years, starting in December 2029, with the implementation of the Parque das Baleias Integrated Project, foreseen in the oil company’s business plan. The current schedule foresees the entry into operation of a new FPSO in 2022. The new field will be formed by Jubarte, Baleia Azul, Baleia Franca and parts of Cachalote, Mangangá, Pirambu and Baleia Ana.

Originally, the dispute would exceed R $ 9.7 billion, considering amounts that have not been paid by Petrobras since 2014, when the ANP decided to unify the fields, updated and added to interest and fine. In the current scenario, Petrobras’ debt falls to R $ 3.118 billion. This difference in the agreement, of more than R $ 6 billion, takes into account the upgrade of the ring fence of the new Jubarte field and the discount of interest and fines. The Superintendency of Government Participations also projects that, in the long term, the smaller amounts collected with the agreement will be offset by the extension of the contract.

Source: epbr

 

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