Brazil’s oil regulator, ANP, and Petrobras have signed an agreement to adapt 335 abandoned offshore wells to comply with safety and environmental rules.
The agreement ends the controversy related to the regulatory deadline for the permanent abandonment or monitoring of wells that were in unmonitored temporary abandonment in offshore oil and gas fields.
Under the terms of the instrument, Petrobras assumes responsibility for the proper management of the 335 wells covered, including the 76 whose management was transferred to other operators.
Wells will be considered suitable when they are permanently abandoned, with capping where applicable; when they are temporarily abandoned, with monitoring carried out in accordance with regulations; or when they are used in the production of a field and are then monitored.
Under the signed agreement, Petrobras will pay R$300m ($58.3m) to ANP and has until the end of 2030 to comply with the rules. Of this total, R$105m will be collected within 30 days after the final signing of the agreement. The remaining R$195m will be paid in 48 monthly instalments. Petrobras said it has already brought 233 of the 335 wells into compliance.
The execution of the agreement must be completed by December 31, 2030, following an annual and semi-annual schedule structured by well risk level. This measure will allow the prioritisation of interventions in the most critical wells and the continuous monitoring of activity progress.
Petrobras will also be required, under the conditions stipulated in the agreement, to provide the tools necessary to carry out interventions in wells transferred to other operators.
