Partner Queiroz Galvao E&P previously told markets on 30 December that bankrupt Oleo e Gas Participacoes could be relieved of its share in the project by Brazil's National Petroleum Agency (ANP) in 15 days if it failed to catch up.
The company said in a securities filing Friday that it now has until 24 January to make its payments.
Oleo e Gas said on Tuesday it had made the first installment on the 73 million reais ($30.46
