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Approval of the agreement with the Federal Public Prosecutor's Office

02/04/2019 | 17h33

Petrobras, following up to the Press Release of 09/27/2018, informs that, on Jan 30, it paid the Commitment Assumption Agreement ("Agreement "), made with the Federal Public Prosecutor's Office (" MPF ") and judicially approved on January 25, 2019, in the amount of US$ 682.6 million, corresponding to 80% of the value of the resolution reached with the Department of Justice (" DoJ ") and the Securities & Exchange Commission (" SEC ") in the United States.


The Agreement establishes that half of the amount deposited will be reverted to a patrimonial fund managed by an independent foundation (to be set up), which will invest in projects, initiatives and institutional development of suitable entities, which reinforce the culture of respect for legality and democratic values, in a nonpartisan way, through the promotion of participatory citizenship and that promote the awareness of the Brazilian population about the importance of integrity in the public and private environment, among other similar purposes, according to MPF guidelines and without interference of Petrobras. The other half may be used to pay potential unfavorable decisions againt the company on proceedings commenced by investors or settlements.


In addition, the Agreement reinforces Petrobras's commitment to continuously improve its compliance program.


Finally, it is important to clarify that this Agreement does not amount to a confession or acknowledgment by Petrobras of liability for losses alleged by third parties, nor of the very existence of any loss they have experienced.

Font: Petrobras Agency
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