RIO DE JANEIRO, July 14, 2014 /CNW/ - HRT Participações em
Petróleo S.A. (the "Company" or "HRT") (BM&FBOVESPA: HRTP3,
TSX-V: HRP), jointly with its wholly-owned subsidiary, HRT O&G
Exploração e Produção de Petróleo Ltda. ("HRTO&G"), informs the
following events related to the areas under concession situated in
the Solimões Sedimentary Basin:
- HRT O&G, ROSNEFT BRASIL AND PETROBRAS SIGN AN AGREEMENT
TO REVIEW THE DEVELOPMENT SYSTEMS FOR THE GAS MONETIZATION
HRT, Rosneft Brasil and Petrobras sign a
Memorandum of Understanding ("MoU") for the second phase of the gas
monetization project, in connection with the establishment of
cooperation regarding the review of the development systems to
monetize the gas in the areas under concession of Petrobras and HRT
O&G/Rosneft Brasil in the Solimões Sedimentary Basin, in
Amazônia.
The Memorandum of Understanding was signed by
the parties in Brasília today in the presence of Mr Igor Sechin,
President and Member of the Management Board of Rosneft Oil
Company, Mr José Alcides Santoro Martins, Chief Gas and Energy
Officer of Petrobras, and Mr Milton
Franke, CEO of HRT.
The signing ceremony relied on the presence of
the President of Brazil, Ms
Dilma Rousseff, and the President of
Russia, Mr Vladimir Putin.
- ANP APPROVES THE ASSIGNMENT OF AN ADDITIONAL 6% WORKING
INTEREST AND TRANSFER OF HRT O&G'S OPERATION ACTIVITIES
TO ROSNEFT BRASIL
The National Petroleum, Natural Gas and Biofuels
Agency (ANP) approved on 07/09/2014
the assignment of an additional 6% working interest in the
exploration, development and production rights and the transfer of
operation over 19 blocks in the Solimões Sedimentary Basin
("Solimões"), under HRTO&G's concession, to Rosneft Brasil (the
Brazilian Rosneft Oil Company's subsidiary), which becomes to hold
a 51% WI, and HRT, 49% WI.
The relevant transaction amounts to USD 96 million. HRT O&G's personnel allocated
in the Solimões Project will be transferred accordingly, as well as
the supply services agreements and financing guarantees submitted
to ANP.
For additional information, please contact HRT's
Investor Relations Department.
Sedar Profile # 00031536
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
About HRT
HRT is one of the largest independent oil and
gas Exploration & Production companies in Brazil. Through its subsidiaries, HRT holds a
60% participating interest and it is also the operator of the Polvo
Field, which is located in the southern portion of the Campos
Basin, 100 km east of the city of Cabo Frio, Rio de Janeiro. Polvo Field has the seventh
largest daily production of barrels of oil equivalent (boe), with
20.3º API, deriving from three producing reservoirs. HRT is the
owner, through its subsidiaries, of "Polvo A" fixed platform and a
3.000HP drilling rig, currently in operation in the field, being
the platform connected to the "Polvo FPSO" vessel, with capacity to
segregate hydrocarbons and water treatment, oil storage and
offloading. Polvo Field license covers an area of approximately 134
km2, with several prospects with potential for further
explorations. Additionally, HRT holds a 55% interest and it is the
operator in 19 exploratory blocks in the Solimões Basin, and also
operates ten exploratory blocks off the Namibian coast in the
Orange and Walvis sub-basins. HRT is committed to minimizing any
possible environmental impacts on the sites where it acts. Our
commitment to the local communities is towards health conditions,
safety and quality of life. For more information, please visit the
Company's website: www.hrt.com.br/ir.
Disclaimer
This news release contains forward-looking
statements. All statements other than statements of historical fact
contained in this news release are forward-looking statements,
including, without limitation, statements regarding our drilling
and seismic plans, operating costs, acquisitions of equipment,
expectations of finding oil, the quality of oil we expect to
produce and our other plans and objectives. Readers can identify
many of these statements by looking for words such as "expects",
"believe", "hope" and "will" and similar words or the negative
thereof. Although management believes that the expectations
represented in such forward-looking statements are reasonable,
there can be no assurance that such expectations will prove to be
correct. By their nature, forward-looking statements require us to
make assumptions and, accordingly, forward-looking statements are
subject to inherent risks and uncertainties. We caution readers of
this news release not to place undue reliance on our
forward-looking statements because a number of factors may cause
actual future circumstances, results, conditions, actions or events
to differ materially from the plans, expectations, estimates or
intentions expressed in the forward-looking statements and the
assumptions underlying the forward-looking statements.
The following risk factors could affect our
operations: the contingent resource and prospective resource
evaluation reports involving a significant degree of uncertainty
and being based on projections that may not prove to be accurate;
inherent risks to the exploration and production of oil and natural
gas; limited operating history as an oil and natural gas
exploration and production company; drilling and other operational
hazards; breakdown or failure of equipment or processes; contractor
or operator errors; non-performance by third party contractors;
labour disputes, disruptions or declines in productivity; increases
in materials or labour costs; inability to attract sufficient
labour; requirements for significant capital investment and
maintenance expenses which HRT may not be able to finance; cost
overruns and delays; exposure to fluctuations in currency and
commodity prices; political and economic conditions in Namibia and Brazil; complex laws that can affect the cost,
manner or feasibility of doing business; environmental, safety and
health regulation which may become stricter in the future and lead
to an increase in liabilities and capital expenditures, including
indemnity and penalties for environmental damage; early
termination, non-renewal and other similar provisions in concession
contracts; and competition. We caution that this list of factors is
not exhaustive and that, when relying on forward-looking statements
to make decisions, investors and others should also carefully
consider other uncertainties and potential events. The
forward-looking statements herein are made based on the assumption
that our plans and operations will not be affected by such risks,
but that, if our plans and operations are affected by such risks,
the forward-looking statements may become inaccurate.
The forward-looking statements contained herein
are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements included in this news
release are made as of the date of this news release. Except as
required by applicable securities laws, we do not undertake to
update such forward-looking statements.
SOURCE HRT Participações em Petróleo S.A.