PETROBRAS: Company to exercise preference in 2 transfer of rights areas

São Paulo, 22 - The Brazilian state-owned oil company Petrobras plans to exercise its preemptive right in two out of the four areas of the transfer of rights agreement to be auctioned in October...

São Paulo, 22 - The Brazilian state-owned oil company Petrobras plans to exercise its preemptive right in two out of the four areas of the transfer of rights agreement to be auctioned in October - Atapu and Búzios -, according to a statement released by the company last night. As a result, the company guarantees minimum participation of 30% in both areas. The transfer of rights deal consists of an agreement between the government and Petrobras in which the company paid directly to the Union for the right to extract up to 5 billion barrels of oil from the Santos Basin pre-salt layer. It is estimated, however, that the area holds more barrels available for extraction. The transfer of rights auction puts on sale just this surplus. Gustavo Nicoletta / Agência CMA Translation by Ricardo Gozzi http://www.agenciacma.com.br/esp/



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PETROBRAS: Company to exercise preference in 2 transfer of rights areas

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