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NEWSLETTER - MAY/2017 - Oil & Gas

  • ANP’s 14th Concession Bid Round will be held on September 27th

The Government scheduled for September 27th the 14th Concession Bid Round of the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”), that will offer 287 exploratory blocks on 11 sedimentary basins. The auction will be held in Rio de Janeiro and will mark the return of the Campos and Santos basins to oil auctions. It is worth mentioning that, on October 27th, exactly one month after the 14th Bid Round, the ANP will hold the 2nd and 3rd Pre-Salt Bid Rounds, that will offer eight areas. The Government wanted to anticipate the ANP’s 2nd Pre-Salt Bid Round, that will offer four unitization areas, but it preferred to hold both auctions on the same day. (05/03/2017)

  • ANP’s Board approved the 14th Concession Bid Round’s initial tender

The ANP’s board approved the initial tender of the 14th Concession Bid Round, that will have different royalties for each sector, varying between 5% to 10%. The idea is that the onshore mature areas and the areas in new borders shall pay less government participation. The intention is to seek incentives to increase the exploration and production activities in those sectors. (05/18/2017)

  • ANP extends the concession of 20 exploratory blocks

The ANP approved the suspension and preventive extension of 20 concession agreements of exploratory blocks from the ANP’s 12th Concession Bid Round, held in 2013. In the total, the agreements of 17 blocks were suspended and three were extended. The ANP faced some troubles in the signature of the agreements due to the possibility of execution of non-conventional activities in some areas. (05/18/2017)

  • ANP approves the transfer of Gran Tierra’s assets to Maha

The ANP approved the purchase of Gran Tierra’s Brazilian assets by Maha Energy. The operation includes the purchase of Tiê field and of the blocks REC-T-117, REC-T-118, REC-T-129, REC-T-142, REC-T-155 and REC-T-224, in the Recôncavo Basin, all of them with 100% participation interest in the concession. The purpose of the Swedish company is to increase the production in the areas by means of low risk development actions that will be complementary to the Tartaruga asset, in the Sergipe-Alagoas Basin, where the company purchased 75% of the participation interest in the end of 2016. (05/22/2017)

  • CNPE approves 2018’s and 2019’s auctions

The National Council of Energy Policy (“CNPE”) published its Ordinance No. 10/2017 that authorizes the ANP to hold the 15th and 16th Concession Bid Rounds and the 4th and 5th Pre-Salt Bid Rounds. The ANP’s 4th Pre-Salt Bid Round, expected to be held in the first semester of the next year, will offer the areas of Saturno, Três Marias and Uirapuru, in the Santos Basin, and the exploratory blocks C-M-537, C-M-655, C-M-657 and C-M-709, in the Campos Basin. Scheduled for the second semester, the ANP’s 5th Pre-Salt Bid Round will offer the prospects of Aram, Sudeste de Lula, Sul, Sudoeste de Júpiter and Bumerangue, all in the Santos Basin. (05/24/2016)

  • Petrobras exercises its preemptive right in three areas in the pre-salt

Petrobras will exercise its preemptive right in the areas of Peroba, Alto de Cabo Frio Central and Sapinhoá in the ANP’s 2nd and 3rd Pre-Salt Bid Rounds to be held in October 27th. The company will have to pay R$ 810 million to have a minimum participation interest of 30% in each one of the areas. The Brazilian or foreign private oil companies can dispute the operation of five areas in the pre-salt. (05/25/2017)

  • ANP approves Sapinhoá’s unitization agreement

The ANP approved the unitization agreement of the Sapinhoá field and an open acreage area, that will be offered in the ANP’s 2nd Pre-Salt Bid Round, scheduled for October 27th. The approval of the unitization agreement is one of the necessary steps for the unitization areas’ auction. It was established that the effectiveness of the unitization agreement shall be as of October 1st. The Sapinhoá field is operated by Petrobras (45%), in partnership with Shell (30%) and Repsol Sinopec (25%). (05/25/2017)

  • 18 seismic authorizations in four months

The ANP approved 18 requests for seismic activities in Brazil between January and April, 2016, being 16 of them for new projects and two for extension. The number already represents an upward trend in the activity in Brazil on this year considering that in the entire year of 2016 31 authorizations were issued, being 13 extensions and 18 new authorizations. According to the ANP, there was an increase of interest in the seismic activities in Brazil after the announcement of the new rounds and the auctions’ calendar until 2019. Due to it, the ANP is making an internal effort to reduce from four months to 20 days the time to issue the authorization. (05/30/2017)

  • Consortia can apply to comercialize the Union’s oil

In the second semester of 2017, the PPSA will go to the market in order to find an agent to commercialize the Union’ share of the oil. Said agent is expected to start operating by the second semester of 2018, with a three years’ term agreement. Initially, the winner of the bid will commercialize the oil of Libra, that will begin the production test in July; Tartaruga Verde, which production is expected to begin in the fourth quarter; besides Lula and Sapinhoá, that are already in operation. Foreign companies that do not have activities yet in Brazil and consortia can participate in the bid, if they assume the commitment of duly incorporating the entities in Brazil in case they are awarded with the contract. (05/31/2017)

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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