ANP APPROVES DECOMMISSIONING GUARANTEES OF CAMPO DE LAPA

(PetroleoHoje) The ANP board approved the guarantee instrument presented by Total for the deactivation and abandonment of the Lapa field, in the Santos Basin. Thus, the French company is able to sign the amendment to the concession contract, assuming 45% of the field, in consortium with Shell (30%) and Repsol Sinopec (25%).

In May 2020, the ANP approved the transfer of the remaining 10% stake in Petrobras to Total, subject to the approval of the deactivation guarantees. The following month, the company requested the agency’s reconsideration so that it did not present the instruments, a claim rejected by the ANP in August.

The instruments were only presented to the ANP in January of this year, after an official letter from the Superintendence for the Promotion of Tenders (SPL) in November 2020, which established a 60-day period for Total to forward the guarantee proposals.

At the meeting this Thursday, the agency approved the letter of credit modality as the financial guarantee instrument for the decommissioning of the Lapa field, referring to the 45% participation of Total. The letter has a value of R$9.68 million for the year 2021, and must be presented within 30 days from the signing of the addendum for the assignment of the contract. The amount will be updated annually, according to the progressive contribution model.

The Lapa field began to be operated by Total in 2018, when it purchased a 35% stake in the field from Petrobras. With the acquisition, the French company became the first private oil company to operate a field in production in the pre-salt. The transaction was the result of a strategic alliance signed with Petrobras, which also led to the assignment of rights in the Iara area, where the Sururu, Oeste de Atapu and Berbigão fields are located.

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