Petrobras reports that National Agency of Petroleum, Natural Gas, and Biofuels (ANP) has approved the Búzios Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Agreement and the Production Sharing Contract of the Transfer of Rights Surplus for the Búzios field, in the Santos Basin pre-salt.
Brazil: Petrobras signs Itapu Coparticipation Agreement
12 Jul 2021 Itapu Coparticipation Agreement, which will regulate the coexistence of the
Transfer of Rights Contract (ToR) and the
Production Sharing Contract (PSC) for the
Surplus of the Transfer of Rights for the Itapu field, in the Santos Basin pre-salt area.
The negotiations started right after the bidding process, held on November 6, 2019, in which Petrobras acquired 100% of the rights to explore and produce the surplus volume of the ToR from Itapu field. Petrobras and PPSA, together, defined the field s Development Plan, production forecasts and recoverable volumes estimates, agreeing on the following Tract Participations (TPs):
The oil and gas price assumptions, discount rate and cost metrics were established in MME Directive n. 213/2019. Thus, the value of the total compensation due to the ToR (100% Petrobras) by the PSC is approx. US$ 1.274 billion, which will be fully recovered as Cost Oil by Petrobras, as th
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