Petrobras, ANP Differ on TOR Reserve Estimates

摘要

Brazil's state-owned oil company Petrobras said its reserve estimates for the "Transfer of Rights" (TOR) differ from those of oil regulator ANP, with the parties still renegotiating the presalt area's contract (OD Jan.30'17). Signed in 2010 when oil prices were high, the pact granted Petrobras exclusive rights to 5 billion barrels of presalt oil production. At the recent Offshore Technology Conference in Rio de Janeiro, Petrobras boss Pedro Parente said he expected his company to receive money back from the state on the deal (OD Oct.26'17).