Page 16 - LatAmOil Week 48 2021

LatAmOil NEWS IN BRIEF LatAmOil

Jeremy Bridglalsingh, CEO, commented: “We company’s portfolio management strategy and those necessary to merely comply with legal
are delighted to be in a position to complete, with the improved allocation of its capital, aiming to requirements. In this fifth cycle of the indica-
an effective date of December 1, 2021, the acqui- maximise value and provide greater return to tor, the IG-Sest incorporates aspects that have
sition of the PS-4 Block, which fits in our broader society. Petrobras is increasingly concentrating already been assessed in the previous cycles,
growth strategy, with the contiguous location its resources on assets in deep and ultradeep recommendations and guidelines of the OECD,
meaning that our 3D seismic interpretation will waters, where it has shown a great competitive of the Office of the Comptroller General of the
have even greater benefit. Beyond the technical edge over the years, producing better quality oil Union (CGU), and of the Brazilian Institute of
synergies, with our largest field WD-5/6 now and with lower greenhouse gas emissions. Corporate Governance (IBGC), as well as ele-
able to act as an operational hub to the nearby About Catuá Field: The Concession Contract ments contained in the new version of the bylaws
WD-2 and PS-4 fields, we foresee meaningful nº 48000.003560/97-49 refers to the explora- model published by Sest.
operational efficiencies as well. We have a port- tory concession of the BC-60 Block acquired in To Petrobras, this certification, besides
folio of assets offering a number of opportuni- Round Zero of the National Agency of Petro- acknowledging the advances the company has
ties to increase production and cash generation, leum, Natural Gas and Biofuels (ANP). This made in recent years, is an opportunity to assess
while our commitment to partnerships to access contract has Petrobras as operator, with 100% its processes at a new level of quality and reaffirm
new opportunities further augments our ambi- stake, and encompasses other fields besides the its commitment to the continuous improvement
tious growth plans.” Catuá Field, which will not be part of the present of its corporate governance.
Trinity Exploration & Production, November 29 assignment of rights process. Petrobras, December 1 2021
2021 The concession area is located in the terri-
torial waters of the Espírito Santo State, about
Petrobras announces 128 km off the coast, in water depths that vary COMPANIES
between 1,700 and 1,950 metres.
beginning of binding phase of which three have found light oil in carbonate PetroTal takes note of
There are four wells drilled in the Catuá Field,
for Campos Basin asset reservoirs. strong earthquake in
Petrobras, November 29 2021
Petrobras, following up on the release disclosed northern Peru
on October 22, 2021, informs the beginning of
the binding phase regarding the sale of its stake ESG PetroTal advises that a 7.5 magnitude earth-
(100%) in the Catuá Field, belonging to Explor- quake hit northern Peru early Sunday, Novem-
atory Block BC-60, located in the Campos Basin, Petrobras receives ber 28, 2021, with the epicenter approximately
State of Espírito Santo. 98 km from the town of Santa Maria de Nieva
Potential buyers qualified for this phase will governance certification and 400 km from Bretaña.
receive a process letter with detailed instructions PetroTal’s production facilities were not
on the divestment process, including guidelines Petrobras informs that today, for the fifth time damaged, and the Company reported no inju-
for due diligence and the submission of binding in a row, it received the certification in the Gov- ries related to the earthquake. Earthquakes
proposals. ernance Indicator of the Secretariat for Co-or- are relatively common in Peru and PetroTal’s
This disclosure complies with the Petrobras’ dination and Governance of State-Owned development platform and related facilities are
internal rules and with the provisions of the Companies (IG-Sest), achieving classification in designed to withstand earthquakes of equal or
special procedure for assignment of rights to the indicator’s best level – Level 1, which shows greater scale.
exploration, development and production of oil, the company’s degree of excellence in corporate The social unrest disruption, as reported by
natural gas and other fluid hydrocarbons, pro- governance. the Company on November 24, 2021 remains
vided for in Decree 9,355/2018. The objective of the IG-Sest is to encourage ongoing, with production rates being managed
This transaction is in line with the companies to develop actions that go beyond to align with remaining storage capacity. Further
updates will be provided as and when known.
PetroTal is a publicly traded, tri‐quoted
(TSXV: TAL) (AIM: PTAL) and (OTC Pink:
PTALF) oil and gas development and produc-
tion Company domiciled in Calgary, Alberta,
focused on the development of oil assets in Peru.
PetroTal’s flagship asset is its 100% working
interest in Bretaña oilfield in Peru’s Block 95,
where oil production was initiated in June 2018.
In early 2020, PetroTal became the second larg-
est crude oil producer in Peru. The Company’s
management team has significant experience
in developing and exploring for oil in Peru and
is led by a Board of Directors that is focused on
safely and cost effectively developing the Bretaña
oilfield. It is actively building new initiatives to
champion community sensitive energy produc-
tion, benefiting all stakeholders.
PetroTal, November 29 2021

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