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Petrobras wins shallow water legal battle

Written by  OE Staff Thursday, 25 May 2017 10:22

Petróleo Brasileiro (Petrobras) has a won a legal battle for the sale of a set of shallow water fields, in the states of Ceará and Sergipe.

The Brazilian giant revealed today (25May) that the 3rd Federal District Court of Sergipe dismissed without prejudice the popular interest suit to suspend the process of transfer of oil and natural gas exploration, development, and production rights for a set of shallow water fields, located in the states of Ceará and Sergipe.

“The dismissal results from a petition filed by Petrobras based on the decision issued by the Federal Court of Accounts (TCU), which authorizes the advance of the company’s divestment program, ordering the application of a revised methodology to divestment projects, per material fact disclosed on 15 March 2017,” Petrobras said.

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