The US$2.2bn assets package deal which was signed between Total and Petroleo Brasileiro (Petrobras) in December 2016 has been temporarily frozen by the Brazilian Federal Court of Sergipe in a response to the class action filed by the Oil Workers' Union of Alagoas and Sergipe (Brazil). In the past, this court froze a series of asset sales, divestments and partnerships undertaken by Petrobras to reduce debt and optimize capital spending. The Brazilian Federal Prosecutor's Office required more time to check if the deal conforms to the Petrobras Divestment Program.
The US$2.2bn deal included the sale of Petrobras's stakes in oil fields (upstream) and thermal power stations to Total (downstream): a 22.5% share in the Iara concession (Santos basin), a 35% stake in the Lapa concession (Santos basin) and a 50% stake in the TermoBahia cogeneration plants. TermoBahia operates the Celso Furtado and Rômulo de Almeida thermal power stations, located both in Bahia.
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