ANP Press Release – Round 12: Consensual Termination of Agreements

13 September 2019

The ANP Collegiate Board of Directors examined the request for contractual termination without charge of the concession contracts of blocks REC ‑ T ‑ 194, REC ‑ T ‑ 208, REC ‑ T ‑ 209, REC ‑ T ‑ 225, REC ‑T ‑ 239, REC ‑ T ‑ 240, REC ‑ T ‑ 253, REC ‑ T ‑ 254 and REC ‑ T ‑ 268 and REC ‑ T ‑ 281, located in the Recôncavo Basin, Sector SREC-T-4, originating from 12th Bidding Round.

The concessionaires of the aforementioned blocks, by virtue of the 2014 injunction arising from a Public Civil Action, have been unable to perform unconventional exploration in the area for four years. Thus, it cannot be disregarded that the 12th Round judicialization affected the exploratory projects of the blocks analyzed.

Accordingly, the ANP’s Board of Directors decided to propose the elaboration of a consensual termination term, in which the concessionaires would be exempt from the obligations regarding the compliance with the remaining Minimum Exploratory Program, provided that it is stated that there will be no refund of the Bonus payments made and that the amount due to be retained in the area must be paid until the termination of the contract.

Seeking the equality of treatment among the regulated entities, the Board hereby extends the dispute settlement presented here to the other concessionaires  of the 12th Round who are in identical situation.

Source: ANP

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.