French oil major TotalEnergies has been given more time to pay for its 22.5% share in the compensation for the Atapu offshore oil field, Brazilian national oil company Petrobras said Tuesday.
Atapu is the block acquired by the consortium composed of Petrobras (52.5%), Shell (25%), and TotalEnergies (22.5%) in the 2nd Bidding Round for the Transfer of Rights surplus under the Production Sharing Regime, on December 17, 2021.
Last week, Shell paid Petrobras R$ 5.26 billion (around $1,12 billion) for its share. Petrobras at the time said it also expected to receive the full payment regarding TotalEnergies' stake, and that the signing of the Production Sharing Contract and the Coparticipation Agreement was expected to occur by April 29, 2022.
According to available information, Total had until April 15 to pay for its share, however, this deadline has now been extended to April 28, 2022.
The Atapu field started production in June 2020 through FPSO P-70 and reached its production capacity of 150,000 barrels of oil per day in July 2021. It has the capacity to treat up to 6 million m³/d of gas.