Page 15 - LatAmOil Week 21 2022

LatAmOil NEWS IN BRIEF LatAmOil

The letter also requests that Caio Mario Paes commitment of $15.2mn has been cancelled, commented: “We are sorry to be leaving Colom-
de Andrade be subsequently evaluated by the and the Certificate of Deposit (CDT) funds, bia, but environmental considerations must be
Petrobras Board of Directors for the position of which secured those work commitments, total- paramount in both ours and the Colombian
CEO. ing GBP1.22mn ($1.52mn), have been returned Government’s thinking. We are pleased, how-
Considering that José Mauro Ferreira Coelho to the Company ever, that this long running issue has been ami-
was elected by the multiple vote system in the Environmental concerns specific to the LLA- cably resolved with an outcome that suits all
Annual General Meeting held on April 13, 2022, 50 area were first raised in 2017 and 2018 as a parties.
if approved by the General Meeting, his dis- result of preliminary environmental studies; the “This process that we have been through,
missal will imply the dismissal of the other mem- Environment Impact Assessment (EIA) and the which is specifically addressed under Colom-
bers of the Board elected by the same process, Medidas de Manejo Ambiental (MMA). The bian regulations, shows that the oil and gas
and the company must hold a new election for Company has worked diligently with the ANH industry can make the right and responsible
these positions, under the terms of article 141, and environmental authorities since then to decisions in respect of environmentally sensitive
paragraph 3, of Law 6,404/76. assess the various possibilities for development, areas, and we are pleased to have been part of this
Petrobras informs that new material facts will with the protection of the Llanos natural envi- ground-breaking process in Colombia, with the
be timely disclosed to the market. ronment as a priority. collaboration of the environmental authorities
Below is the resume of the nominated candi- After pronouncements obtained from the and ANH.
date: Caio Mario Paes de Andrade. Caio Mario local Environmental Agency (Corporinoquia) Gulfsands has now completed the tidy-up of
Paes de Andrade is currently the Special Secre- confirming the non-viability of the exploration all its legacy assets and now has a clean platform
tary for Debureaucratisation, Management and programme due to the severe environmental from which to focus on its return to Syria, when
Digital Government of the Ministry of Economy. restrictions present within the Block, we have circumstances allow, and to explore further busi-
Entrepreneur in information technology, real now agreed to the mutual termination agree- ness development opportunities in the MENA
estate market and agribusiness, Caio Mario Paes ment of the Contract. region.”
de Andrade has a degree in Social Communi- Gulfsands accepts this decision and believes Gulfsands Petroleum, May 26 2022
cation from Universidade Paulista, post-gradu- that this is the correct decision for the ANH, the
ation in Administration and Management from Company and for the environmentally sensitive Subsea 7 awarded contract
Harvard University, and Master in Business area of LLA-50.
Administration from Duke University. In 2000 This is one of the particular instances avail- offshore Brazil
he founded WebForce Ventures, responsible for able under the provisions of the relatively new
the development of more than 30 startups. He regulation, Agreement 2, of 2017, whereby con- Subsea 7 has announced the award of a major
is founder and board member of the Instituto tracts can be terminated by mutual agreement contract by Petrobras for the development of the
Fazer Acontecer. In 2019 he moved from the where there are demonstrable special environ- Búzios 8 field located approximately 180 km off
private sector to the public sector. He was CEO mental conditions applicable to a particular the coast of Rio de Janeiro at 2,000 metres water
of SERPRO until August 2020, when he became location. Under article 7 of Agreement 2, ANH depth in the pre-salt Santos basin.
part of the Ministry of Economy. seeks to prioritise the environment protection The contract scope includes engineering,
Petrobras, May 23 2022 over oil and gas contractual obligations. In this procurement, fabrication, installation and
case it was evident to both the Company and the pre-commissioning (EPCI) of approximately
ANH, that in situ conditions within the LLA-50 126 km of rigid risers and flowlines, 98 km of
PROJECTS & COMPANIES area had to prevail. flexible lines and 88 km of umbilicals and asso-
LLA-50 was Gulfsands’ last outstanding Con- ciated infrastructure, as well as installation of
Gulfsands Petroleum tract in Colombia, following the successful farm- FPSO mooring lines and hook-up.
Project management and engineering will
out of its Putumayo-14 contract to Amerisur
announces mutual Resources Plc in 2018. Following this termina- commence immediately at Subsea 7’s offices
tion of the LLA-50 E&P Contract, the Company in Rio de Janeiro and Paris. Fabrication of the
termination of contract will now focus on completing its orderly admin- pipelines will take place at Subsea 7’s spoolbase
istrative exit from Colombia, in compliance with at Ubu, Brazil and offshore operations are sched-
for Llanos-50 site applicable regulations. uled to be executed in 2024 and 2025 using one
Gulfsands’ Managing Director John Bell of Subsea 7’s fleet of rigid-reeled pipelay vessels.
Gulfsands Petroleum, the oil and gas company
focused on the Middle East and broader MENA
region, has announced that it has reached
mutual agreement with the Agencia Nacional De
Hidrocarburos (ANH) in Colombia to terminate
the Llanos-50 (LLA-50) E&P Contract on envi-
ronmental grounds, prioritising environmental
protection in an area of particular ecological
sensitivity.
The mutual termination was agreed without
liability to either the Company or ANH under
regulations which allow for such termination
in situations where it is not possible to per-
form activities due to environmental limita-
tions. As a result, the original contractual work

Week 21 26•May•2022 www. NEWSBASE .com P15