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NEWSLETTER - MARCH/2017

  • ANP scheduled ten bids rounds until 2019

The National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) forwarded to the Ministry of Mines and Energy (“MME”) a portfolio of the areas that will be part of the first ANP’s Bid Rounds calendar of exploratory blocks in Brazil, that shall include the bids for 2017, 2018 and 2019. The proposal is to have three bids per year: one of concession, one of production sharing and one of marginal fields. The government expects to approve the blocks to the ANP’s 14th Concession Bid Round and the ANP’s 3rd Pre-salt Bid Round during an extraordinary meeting of the National Council of Energy Policy (“CNPE”). The idea is that the ANP’s Bid Rounds calendar has all the areas appointed for each one of the rounds. (03/09/2017)

  • ANP’s 11th Concession Bid Round – 30 requests for extension

The ANP received 30 request to extend the exploratory term for the 49 offshore blocks offered in the ANP’s 11th Concession Bid Round, held in 2013. The information is part of the technical note drafted by the ANP to support the public hearing to be held on April 3rd. The ANP appoints more two years for the exploratory term regarding the bid’s area. In return, the companies shall prove that they are duly paying the government participation and submit new financial guarantees. (03/10/2017)

  • Petrobras relinquishes two offshore blocks

Petrobras relinquished the offshore blocks C-M-333 (BM-C-28), in the Campos Basin, and ES-M-413 (BM-ES-26), in the Espírito Santo Basin, reducing its exposure to exploration assets. The concessions were relinquished in January and February, 2017. In the Campos Basin, with the end of C-M-333’s agreements, Petrobras will be operator only in the blocks BM-C-35 (where Basilísco was discovered) and C-M-401 (BM-C-36). In the Espírito Santo Basin, the block ES-M-413 was an asset from the ANP’s 7th Concession Bid Round and its exploration began in 2006. Between 2008 and 2010 three wells were drilled in the area. (03/10/2017)

  • PetroRio concludes Brasoil’s purchase

On March 20th, PetroRio concluded Brasoil’s purchase. The transaction was approved without restriction by the Administrative Council for Economic Defense (“Cade”) in the end of February and received the consent from PetroRio’ shareholders on March 7th. With the purchase, PetroRio will hold 10% of participation interest in Manati field, in the Camamu Basin, first gas producer asset of the oil company. Besides, the merger will also guarantee access to the blocks FZA-M-254 and FZA-M-539, in the Foz do Amazonas Basin. (03/21/2017)

  • Petrobras may exercise its preemptive right as operator in the following bids

Petrobras may exercise the operation preemptive right in the bids of areas schedules for 2017. The information was disclosed by Petrobras’ President, Mr. Pedro Parente, during the disclosure of the company’s 2016 results. Mr. Parente said that Petrobras shall evaluate the areas that will be available and, if Petrobras has interest for any of them, it shall reorganize its investments schedules. (03/21/2017)

  • Published the pre-salt’s commercialization policy

On March 24th, 2017, the MME published the commercialization policy for oil and natural gas from the production sharing areas in Brazil. The resolution was necessary to the Libra’s consortium starting the long duration test of Libra’s project, that is expected to produce its first oil in July, from the FPSO Pioneiro de Libra. The commercialization policy approved by the CNPE shall be transitory and valid for 36 months. The Pré-sal Petróleo S.A (“PPSA”) shall be responsible in the contract of commercial agents for the Union’s oil portion in the projects and, every six months, it shall publish the commercial agents’ performance. The sales revenue shall be directly deposited in the National Treasury’ Sole Account. (03/24/2017)

  • Alvopetro declares the commerciality of Mãe-da-lua field

Alvopetro has declared the commerciality of Mãe-da-lua field, from the block REC-T-182, in the Recôncavo Basin. The commerciality was announced on February 22nd, but it was only published in the ANP’s website on March 27th. The block REC-T-182 was acquired by AlvoPetro in the ANP’s 9th Concession Bid Round, in 2007, with 100% of the participation interest in the concession. The field is the first to be declared as commercial in Brazil this year. In 2016, only three fields had the commercialization declared in Brasil, being all of them onshore. (03/27/2017)

  • Petrobras will not sell Baúna and Tartaruga Verde

Petrobras informed to the Federal Justice of Sergipe and the Federal Supreme Court (“STF”) that it will not move forwarding with the sale to the Australian oil company Karoon of the Baúna and Tartaruga Verde fields, located in the Santos and Campos basins, respectively. The decision was taken, among other reasons, due to the preliminary injunction maintained by the Federal Justice of Sergipe and the rules established by the Union’s Audit Court (“TCU”) to approve Petrobras’ disinvestment projects. (03/29/2017)

  • Petrobras approves new disinvestment portfolio

Petrobras’ Executive Board approved the draft of the new disinvestment portfolio of the company. To elaborate the new portfolio, Petrobras will not pursue with the sale of  the disinvestment projects that were in progress, but not signed. This is the case of the onshore assets of Topázio project, the shallow waters in Sergipe and Ceará (Ártico), the BR Distribuidora, the Baúna and Tartaruga Verde fields, and the Saint Malo field, at Gulf of Mexico. On the other hand, the following sale process were maintained: Nova Transportadora do Sudeste (NTS), Liquigás and Petroquímica Suape and Citepe, that had the agreements already signed. Those sale operations will correspond to half of the us$ 13.67 billion disinvested by Petrobas in 2015 and 2016. (03/31/2017)

Source: Brasil Energia Petróleo

Felsberg Advogados remains at your entire disposal for any clarifications that may be necessary in relation to the matters covered above. Should you have any further doubts, please contact Luis Menezes (luismenezes@felsberg.com.br), our partner responsible for the Oil and Gas Department.

OIL AND GAS DEPARTMENT

FELSBERG ADVOGADOS

This article is intended exclusively to provide information and does not contain any opinion, recommendation or legal advice from Felsberg Advogados in relation to the issues addressed.

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