Brazil Reaches Deal with Petrobras Over Transfer of Rights Area

December 12, 2018

© Celso Pupo / Adobe Stock
© Celso Pupo / Adobe Stock

The Brazilian government has reached an agreement with state-controlled oil company Petróleo Brasileiro SA over the so-called transfer of rights area, Finance Minister Eduardo Guardia said on Wednesday.

Guardia declined to disclose values nor who is owed what under the terms of the agreement. A dispute over the oil in question, and the price of it, dates back to 2010, when the Brazilian government granted Petrobras the right to extract 5 billion barrels of oil and gas in the offshore Santos Basin.


(Reporting by Marcela Ayres; Writing by Bruno Federowski)



Current News

Halted Shares of Sembcorp Marine, Parent in Focus in Singapore

Halted Shares of Sembcorp Marine, Parent in Focus in Singapore

Keppel, Borr Drilling Agree on Jack-Up Deliveries Delay

Keppel, Borr Drilling Agree on Jack-Up Deliveries Delay

Seacor Marine Takes Full Ownership of Seacosco

Seacor Marine Takes Full Ownership of Seacosco

Eidesvik Wins PSV Charters with Aker BP

Eidesvik Wins PSV Charters with Aker BP

Subscribe for OE Digital E‑News

Offshore Engineer Magazine