Brazil court action could stall Total’s Brazil farm-ins

Petrobras has responded to the decision of the 3rd Federal Court of Sergipe concerning the company’s proposed field transactions with Total in the Santos basin.

Offshore staff

RIO DE JANEIRO – Petrobras has responded to the decision of the 3rd Federal Court of Sergipe concerning the company’s proposed field transactions with Total in the Santos basin.

The Court has reportedly granted an injunction, in a class action, determining the suspension of the transfer of 22.5% of Petrobras’ stake in the Iara area and of 35% of the rights and operatorship of theLapa field to Total.

Petrobras has not yet received any summons, and can only express its opinion after analysis of the injunction. But the company adds it will take all legal measures to guarantee its interests and those of its shareholders.

10/16/2017

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