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Roberto Castello Branco, CEO of Petrobras,
emphasized the importance of signing these
contracts: “The flow and processing agreements
will be a milestone in the natural gas market
opening in Brazil. They demonstrate the com-
mitment of all partners to contribute to the
development of a competitive and sustainable
market in the country”.
The contracts will provide physical intercon-
nection and sharing of the pipeline capacities on
routes 1, 2 and 3 (this last one owned by Petro-
bras and under construction), resulting the Inte-
grated Pipeline natural gas System. In the future,
other companies producing natural gas will be
able to work to the current contracts, as long as
there is capacity available in the System.
In addition to the Integrated Pipeline Sys- Samik Mukherjee Group Senior Vice President unpaid interest thereon, upon 30 days notice to
tem, there are also contracts that constitute the for Projects. “We draw from the strong, local the holders of the Debentures, at a price equal
Integrated natural gas Processing System, which workforce we have in Mexico to support this to 105% of the principal amount of the Deben-
provides companies with access to the process- project as well as our experience and expertise as tures (the Redemption Right). Upon repayment
ing units, owned by Petrobras, located in Cara- an EPCI leader to safely deliver excellent results (including by exercise by the Company of its
guatatuba, São Paulo, Cabiúnas and Itaboraí on behalf of the customer.” Redemption Right) of 75% or greater of the
(under construction), both in Rio de Janeiro. The MODEC project scope of work consists principal and interest due under the Debentures,
Natural gas routes and processing plants: of five FPSO Topside Modules, which will be holders of the Debentures will be granted a pro
With the signing of these contracts, the compa- delivered to the client in two shipments. This rata 15% net profit interest on the revenue asso-
nies will be able to transport the gas produced first shipment includes modules that will provide ciated with the Company’s pipeline to be built
in the Santos Basin pre-salt fields through any compression, vapor recovery and a laydown area from the Maria Conchita field in Colombia to
of the export routes and process it in the plants for the FPSO. existing pipelines (the Pipeline), which net profit
owned by Petrobras. McDermott’s Altamira fabrication facility interest shall be for the life of the Pipeline. The
The combination of these two Systems is in Mexico is delivering the FPSO modules and Debentures shall have a first ranking security
one more fundamental step for companies to EPCI fixed platform. Engineering support of interest over the Pipeline and all profits resulting
sell their natural gas volumes directly to their the project is being performed by McDermott’s therefrom.
customers. This movement is part of a set of Houston and Altamira offices. The net proceeds of the Offering will be used
actions that enable the diversification of agents, McDermott International, October 07 2020 to fund capital expenditures for the construction
resulting in increased competition and reduced of the Pipeline and infrastructure needed to con-
stake of Petrobras in all natural gas chain links, in nect the Pipeline to existing gas transportation
compliance with the commitments made at the INVESTMENT infrastructure and for general working capital
Administrative Council of Economic Defense purposes.
(CADE) in July 2019. NGX Energy Announces In consideration of the services rendered
Petrobras, September 30 2020 by the Sole Lead Agent in connection with the
$10mn Brokered Private Offering, the Company has agreed to pay on the
Closing Date a commission equal to 3% of the
Placement of Debentures The Closing of the Offering is expected to
SERVICES gross proceeds from the Offering.
McDermott Announces NGX Energy International Corp. (formerly Cru- occur on or about November 3, 2020 and is
zSur Energy Corp.) is pleased to announce that it subject to a number of conditions, including
Shipment of First MODEC has engaged Canaccord Genuity Corp. (the Sole receipt of all necessary corporate and regulatory
approvals, including the TSX Venture Exchange.
Lead Agent) on a commercially reasonable-ef-
FPSO Modules forts basis for the sale of secured debentures NGX Energy International Corp. is a publicly
(the Debentures) of NGX at a price of $1,000 traded E&P company on a mission to provide
McDermott International, Ltd today announced per Debenture (the Offering Price) for aggre- a clean and sustainable solution to Colombia’s
the first shipment of topside modules for a float- gate gross proceeds of up to $10,000,000 (the energy needs. The Company intends on execut-
ing production storage and offloading (FPSO) Offering). ing this mission by producing and bringing gas
unit for MODEC, Inc. (MODEC). The Debentures will mature 6 years from the to the premium priced Colombian gas market
The FPSO will be located in the Area 1 block, closing date of the Offering (the Closing Date) from its concessions, SN-9, a 311,353-acre block
approximately six miles (10 kilometers) off the and will bear interest from the Closing Date at a which is adjacent to Canacol’s Nelson field, as
coast of Mexico in the shallow waters of the rate equal to 15% per annum, payable monthly. well Maria Conchita, a 32,518-acre block located
Campeche Bay at a water depth of approximately The Company shall have the right, in its sole dis- in the region of La Guajira. NGX’s team has
105 feet (32 meters). cretion, at any time on or after the date which extensive technical expertise and a proven track
“McDermott’s unique ability to deliver mod- is 3 years from the Closing Date, to redeem and record of building companies and creating value
ular solutions, both onshore and offshore, helps repay all of the principal amount outstanding in South America.
us mitigate risk and improve efficiency,” said under the Debentures plus any accrued and NGX Energy, October 06 2020

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