28 April 2024
Petrobras cancels fields sale to Karoon
Publication date: 30 March 2017
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Petrobas has cancelled the planned sale of two offshore fields in Brazil to Karoon Gas Australia after a court found that Petrobras had not adhered to the correct sale process, Karoon said on Thursday.
Petrobras’ decision comes five months after Karoon won the right to negotiate a final agreement to purchase a 50% stake in the Tartaruga Verde field and 100% of the Bauna asset. Court proceedings were then initiated against the sale and an injunction was granted in November to suspend the sale.