Petrobras (PETR4) received BRL 430 million from Karonn Petroleo today, according to a document sent to the market.
According to the oil company, the company is a subsidiary of Karoon Energy Ltd, and the amount concerns the contingent payment of the price of a barrel of oil for the year 2022.
“This receipt is in accordance with the terms of the contract negotiated between the companies, referring to the sale of Petrobras’ entire stake to Karoon in the Baúna field (BM-S-40 concession area), located in shallow waters in the Saints,” he said.
And he added that the other installments of the aforementioned contingent payment may be received by Petrobras until 2026, depending on the evolution of the price of a barrel of oil in future years.
Petrobras (PETR4): Sepia
Last week the company received R$ 1.3 billion in compensation for Sepia.
The amount concerns the earnout for the year 2022, from the Sépia block.
The amount already includes gross-up of taxes on the 28%, 21% and 21% stakes of TotalEnergies EP Brasil Ltda, PETRONAS Petróleo Brasil Ltda and QatarEnergy Brasil Ltda, respectively, in Sepia.
The state-owned company pointed out that under the terms of Ordinance No. 08 of 04/19/2021 of the Ministry of Mines and Energy (MME) and the public notice of the 2nd round of bids for the Transfer of Rights Surplus under the Production Sharing regime, held on 12/17 /2021, earnout values were established for the Sépia and Atapu blocks, which will be due between 2022 and 2032, and payable from the last business day of January of the year following the year in which the price of Brent oil reaches the annual average above US$ 40/bbl, limited to US$ 70/bbl.
“Petrobras expects to receive the entire payment related to the earnout for the 2022 financial year, which is the responsibility of the partners in the Sépia and Atapu blocks, by January 31, 2023,” he said.