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Sale Process of BM-S-8 Exploration Block

04/18/2017 | 09h36
Sale Process of BM-S-8 Exploration Block
Petrobras Agency Petrobras Agency

Petrobras would like to inform that today (April/17), it has become aware of the decision by the 2nd Federal District Court of the State of Sergipe, that granted an injunction to suspend the transfer of Petrobras’ stake in the BM-S-8 exploration block ("Carcará Field") to Statoil Brasil Óleo e Gás Ltda. and the exploration of the field by the purchaser, until further court deliberation.

As described in the Material Fact disclosed on 11/22/2016, this transaction had already been finalized after the fulfillment of all the precedent conditions set forth in the contract, with no restrictions, such as approval by the Administrative Council for Economic Defense (Cade) and by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Furthermore, pursuant to the Material Fact disclosed on 11/28/2016, Petrobras clarifies that the US$ 1.25 billion amount received upon the closing of the transaction was used in full for early settlement of part of the financing contract between Transportadora Associada de Gás S.A. (TAG), a wholly-owned Petrobras subsidiary, and the National Bank for Economic and Social Development (BNDES), where such a measure was adopted to reduce its indebtedness.

Petrobras would also like to inform that it will take the appropriate legal action on behalf of its investors and own interests.

Font: Petrobras Agency
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