Justice suspends sale of piece of the exploratory block BM-S-8 of Petrobras

The second stick of Justice Federal de Sergipe granted injunction that suspended the sale of Petrobras ‘ slice corresponding to 66%, in block BM-S-8, in the field of Carcará, in the pre-salt Santos basin, to Norwegian oil company, Statoil Brazil oil & gas Ltd., according to the release.

Brazilian oil company reported in a statement that the sale had been terminated at the end of last year, after the fulfillment of all the conditions precedent provided for in the agreement, without restrictions, with the approval of the Administrative Council for economic Defense (Cade) and the National Agency of petroleum, Natural gas and biofuels (ANP).

In addition, the State had received a total of $1.25 billion with the closure of the operation, this value that was used in full to the partial settlement of the advance financing agreement with your subsidiary Associated Gas Carrier S.A. (TAG) and Banco Nacional de Desenvolvimento Econômico e Social (BNDES), as part of your debt reduction. The total value of the deal is $2.5 billion, and will be paid in two installments.

The company informed that it will take appropriate legal measures in favour of their interests and of their investors. The suspension was taken because a suit filed in 2016, the National Federation of Tankers (FNP), for understanding that there were irregularities in the sale transaction, since the same was done without bidding.

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