Page 19 - LatAmOil Week 35

LatAmOil NEWS IN BRIEF LatAmOil

As a result of the rules of the CAM, the motion the past year, API has formed a number of stra-
was filed under seal and the proceedings are tegic relationships with standards organisations,
confidential. regulatory agencies and trade groups worldwide
Petrobras reinforces that it will continue to to advance our industry standards, operational
seek vacatur of the partial award, due to its seri- safety and sustainability.”
ous flaws and improprieties, and will continue to “Technical standards are essential for improv-
defend itself vigorously, in respect of its current ing the safety and productivity of industrial oper-
shareholders, in all arbitrations to which it is a ations, managing the integrity of equipment, and
party. preserving life and the environment,” ABENDI
Petrobras, August 27 2020 President Pedro Feres Filho said. “This MoU
with API shows ABENDI’s strong commitment
to continuously meeting these goals and will
FINANCE allow us to collaborate on courses, seminars and
standards in the natural gas, oil and petrochemi-
Petrobras on public cal segments. We are facing a global public health
crisis, one that has caused significant challenges
offering of shares in for humanity. It is more important now than ever
that organisations like API and ABENDI forge
Petrobras Distribuidora concessions: the fields of Biguá, Cacimbas, industry and its workers.”
The Cricaré Cluster comprises 27 onshore deep partnerships to advance value for both the
Petrobras informs that its Board of Directors Campo Grande, Córrego Cedro Norte, Córrego The primary purpose of this MoU is to pro-
approved, today, the proposal to sell its remain- Cedro Norte Sul, Córrego Dourado, Córrego das vide a platform to enhance cooperation and
ing 37.5% stake in the capital stock of Petrobras Pedras, Fazenda Cedro, Fazenda Cedro Norte, collaboration between API and ABENDI in a
Distribuidora, by means of a secondary public Fazenda Queimadas, Fazenda São Jorge, Guriri, number of areas, including: facilitating joint
offering (follow-on). Inhambu, Jacutinga, Lagoa Bonita, Lagoa Suru- training; the exchange of information on indus-
The moment of launching the offer will be aca, Mariricu, Mariricu Norte, Rio Itaúnas, Rio try standards; enhanced communications;
defined later and is subject, among others, to the Preto, Rio Preto Oeste, Rio Preto Sul, Rio São and collaboration on joint forums to facilitate
market conditions, to the approval of Petrobras’ Mateus, São Mateus, São Mateus Leste, Seriema exchanges between Brazilian and American
internal bodies, notably regarding price, and and Tabuiaiá, which are located in the state of experts in the natural gas and oil industry.
to the analysis of the Brazilian Securities and Espírito Santo, in the cities of São Mateus, Jag- API standards are developed under an Amer-
Exchange Commission (CVM) and other reg- uaré, Linhares and Conceição da Barra. Petro- ican National Standards Institute accredited
ulatory and self-regulatory bodies, under the bras is the operator with 100% interest of these process, ensuring that the API standards are not
terms of the applicable legislation. concessions. The average production of Cricaré only technically rigorous, but also are developed
Petrobras, August 26 2020 Cluster from January to June 2020 was around using consensus, due process and balance across
1,700 bpd of oil and 14,000 cubic metres per day stakeholder interests. API’s ANSI accreditation
of gas. also facilitates acceptance of API standards by
INVESTMENT Petrobras, August 27 2020 state, federal and increasingly international
regulators.
Petrobras signs contract for POLICY and natural gas industry. Our than 600 mem-
API represents all segments of America’s oil
onshore fields sale in ES bers produce, process and distribute most of
the nation’s energy. The industry supports more
Petrobras, following up on the release disclosed API Signs MoU with than 10mn U.S. jobs and is backed by a grow-
on June 9, 2019, informs that it signed today Brazilian certification ing grassroots movement ofmns of Americans.
with Karavan SPE Cricaré, a Specific Purpose API was formed in 1919 as a standards-setting
Entity (SPE), a contract for the sale of all of its and standardisation group organisation. In its first 100 years, API has devel-
stakes in 27 onshore exploration and production oped more than 700 standards to enhance oper-
concessions, located in Espírito Santo, jointly ABENDI ational and environmental safety, efficiency and
denominated Cricaré Cluster. Karavan O&G sustainability.
Participações e Consultoria will hold 51% of API today signed a Memorandum of Under- Founded in 1979, ABENDI is a techni-
the SPE, while Seacrest Capital Group Limited, standing (MoU) with the Brazilian technolog- cal-scientific society and provider of solutions
which is an equity provider, will hold the remain- ical, certification and standardisation group, of high technological value for companies and
ing 49%. ABENDI, to collaborate on industry standardi- people through the innovation and the diffusion
The sale amount is $155mn, of which (a) sation with the goal of enhancing safety, environ- of knowledge in the areas of Non-Destructive
$11mn paid at this date; (b) $26mn at closing of mental protection and sustainability. Testing, Inspection, Quality and Safety, preserv-
the transaction and (c) $118mn in contingent “We welcome the signing of the new collab- ing life and the environment. ABENDI oper-
payments foreseen in contract. The amounts do orative agreement with our colleagues in Brazil, ates in the areas of technology and innovation
not consider the adjustments due and the clos- which will bring our two organisations closer projects, technical standards, qualification and
ing of the transaction is subject to compliance together in pursuit of advancing safety and envi- certification and in the dissemination of knowl-
with previous conditions, such as approval by the ronmental protection in the natural gas and oil edge through training, courses, congresses and
National Agency of Petroleum, Natural Gas and industry,” API Global Industry Services (GIS) events.
Biofuels. Senior Vice President Debra Phillips said. “Over API, August 27 2020

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