HRT, TNK-Brasil and Petrobras sign Letter of Intent for the monetization of the natural gas in Solimões

abarrelfull wrote on 20 Oct 2012 07:48
Tags: brazil hrt petrobras s-america tnk-bp upstream

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HRT Participações em Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3, TSX-V: HRP) announces that its subsidiary HRT O&G Exploração e Produção de Petróleo Ltda. ("HRT O&G"), Petróleo Brasileiro S.A. ("Petrobras") and TNK-Brasil Exploração e Produção de Óleo e Gás Natural Ltda. ("TNK-Brasil") signed a Letter of Intent ("LOI") for the gas monetization in the Solimões Basin.

The LOI was signed by the CEO of Petrobras, Ms. Maria das Graças Silva Foster, the CEO of HRT, Mr. Marcio Rocha Mello and the President of TNK-Brasil, Mr. George Michael Morgan, at the presence of Mr. Edison Lobão, Ministry of Mines and Energy of Brazil and Mr. Omar Aziz, Governor of the State of Amazonas.

The objective of this LOI is to combine efforts to appraise the feasibility on technical, economic, environmental, financial, legal and regulatory, as well as tax aspects for the implementation of the natural gas monetization with regards to concessions in contiguous areas to the Juruá Field.

• HRT, TNK-Brasil and Petrobras sign Letter of Intent for the monetization of the natural gas in Solimões

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