Brazil’s state-run oil company Petrobras said on May 21 its board of directors approved an addendum to a transfer-of-rights oil contract that will see it reimbursed to the tune of $9.06 billion.
But the deal remains subject to governmental agreement.
Approval depends on the publication of a Ministry of Mines and Energy decree that does not violate the rights and conditions from the contract Petrobras has already negotiated, the company said in a statement.
The discovery adds to the previous recoverable resource estimate of approximately 9 billion oil equivalent barrels.
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