Petrobras approves settlement with Sete Brasil

Last Friday (20), Petrobras reported that the executive board and the board of directors of the oil company approved the terms of the agreement with Sete Brasil. According to the company, the pact, which announced in March 2018, preserves terms that have already been disclosed.

Among them are: maintenance of chartercontracts and for four probes, with a valid duration of 10 years and daily rate of US$ 299,000; termination of contracts concluded in relation to the other 24 probes; petrobras and its subsidiaries from the corporate framework of the companies of the Sete Brasil Group and FIP Sondas, as well as the consequent contracts not compatible with the terms of the agreement.

According to Petrobras, it will stay with Magni Partners — winner of the auction under the Judicial Recovery of Sete Brasil in association with Etesco (brazilian company in the oil and gas market) — the chartering and operation of the four remaining probes, still in the process of Construction.

In addition, the signing of contracts that will formalize the agreement will depend on the compliance with the governance rules of Sete Brasil and other companies involved. In relation to other agreements and contracts, it will depend on meeting the conditions that are expected to occur by June 30, 2020

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