Statoil entry into Carcará oil field blocked

Offshore staff

RIO DE JANEIROPetrobras says that Brazil’s 2nd Federal District Court (Sergipe state) has granted an injunction that suspends the transfer of the company’s stake in the BM-S-8 concession containing the Carcará field to Statoil.

The transaction had already been finalized following fulfilment of all conditions laid out in the contract, Petrobras points out, as approved by the Administrative Council for Economic Defense (Cade) and by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Furthermore, the $1.25 billion the company received on the closing of the transaction was used in full to settle part of a financing contract between Petrobras subsidiary Transportadora Associada de Gás and the National Bank for Economic and Social Development.

Petrobras plans to take legal action to contest the decision.

04/19/2017

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