Petrobras strikes deal with regulator to bring 335 offshore wells into line
R$300m agreement gives the Brazilian major until 2030 to comply on abandoned wells
Petrobras has reached an agreement with Brazil's oil regulator, the ANP, to bring 335 abandoned offshore wells into compliance with safety and environmental rules, settling a long-running dispute over deadlines for the permanent abandonment or monitoring of wells left in temporary abandonment.
Under the deal, Petrobras takes responsibility for the 335 wells, including 76 whose management had been transferred to other operators, and will pay R$300m ($58.3m) to the regulator. R$105m is due within 30 days of final signing, with the remaining R$195m spread over 48 monthly instalments. The company has until the end of 2030 to complete the work, on a risk-based annual and semi-annual schedule, and must also provide the tools for interventions on the wells now held by other operators.
Petrobras said it had already brought 233 of the 335 wells into compliance.
