Petrobras and Federal Government sign agreement to unify fields in Parque das Baleias (ES)

05/04/2019 1

Petrobras signed the agreement that validates the unification of fields in the region known as “Parque das Baleias”, located in the portion of the Campos Basin facing Espírito Santo. The ceremony was held at Palácio Anchieta, in Vitória (ES), with the presence of the company’s president, Roberto Castello Branco.

Parque das Baleias is a complex  pre-salt and post-salt deposits. Located to the north of the Campos basin, it produces an average of 260,000 bpd and 7 million m³ / d of gas, through four platforms and 63 wells.

“It was a long discussion, five years, but we have a very happy end to history for Petrobras, for the state of Espírito Santo and for Brazil,” said Castello Branco during the solemnity. “In 2018, we produced in the state an average of 300,000 barrels of oil per day and 9 million cubic meters per day of natural gas. This represents about 15% of national production. Without a doubt, Espírito Santo is very important for our activity in Brazil and for the production of oil in the country. ”

The agreement ends a process started in 2014, when the National Petroleum, Natural Gas and Biofuels Agency (ANP) determined the unification of all the fields of the Parque das Baleias. In July 2018, the arbitral process was suspended on the initiative of the parties with the objective of seeking an alternative to the resolution of the dispute through an agreement. The draft of the document was submitted to the public consultation and hearing, which took place on February 14. The conclusion of this process provides legal certainty for Petrobras to make new investments in the area.

The agreement provides for the extension of the concession period for the new unified Jubarte field, which will enable the implementation of a new production system, the Parque das Baleias Integrated, which will start operation in 2022, as well as other projects in the area.

The concept of the field was defined based on technical criteria by the ANP and Petrobras and, by the terms of the agreement, with the unification of fields of the Parque das Baleias from the fourth quarter of 2016, Petrobras will pay the amount of R $ 3, 5 billion.

The event was attended by the Minister of Mines and Energy, Bento Albuquerque, the Secretary-General of the Attorney General’s Office, Renato de Lima França, ANP Director General Décio Oddone and the Governor of Espírito Santo , Renato Casagrande.

Source: Agencia Petrobras

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