ANP’s 5th Pre-salt Bid Round
The National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) published today, Auguest 10th, the tender protocol of the 5th Pre-salt Bid Round, that will be held on September 28th, 2018, as well as the template of the production sharing agreements, with and without Petrobras participation in the “Sudoeste de Tartaruga Verde” block and without its participation in Saturno, Titã and Pau-Brasil blocks.
The main change made on the production sharing agreements when compared to their initial drafts was the adjustment of the local content provision regarding “Sudoeste de Tartaruga Verde” block, by establishing that any adjustment to the local content provided in the concession agreement of the adjacent area to “Sudoeste de Tartaruga Verde”, in accordance with the ANP’s Ordinance No. 726/2018, will also be applicable to the production sharing agreement.
Furthermore, due to the Ordinance No. 11/2018, of the National Council of Energy Policy (“CNPE”), the Union’s minimum percentage of profit oil for Saturno and Titã blocks were adjusted from 9.56% to 17.54% and 5.80% to 9.53%, respectively.
The ANP’s 5th Pre-salt Bid Round will offer the following areas:
|BASIN||BLOCKS||PETROBRAS’ PREEMPTIVE RIGHT||OFFERED PARTICIPATION (%)||MINIMUM PROFIT OIL (%)|
|Campos||Sudoeste de Tartaruga Verde||Yes||70||10.01|
Please find below the updated schedule for the following events regarding the ANP’s 5th Pre-salt Bid Round:
|End of the period to submit the documents to express interest, qualification and payment of the participation fee||August 27th, 2018|
|Deadline to provide the Bid Guarantee||September 13th, 2018|
|Date of the ANP’s 5th Pre-salt Bidding Round||September 28th, 2018|
|Award of the object and homologation of the bidding process||Until October 11th, 2018|
|Due date to the winner bidder provides the execution of the Production Sharing Agreements, the additional guarantee, if applicable, and payment of the signing bonus||Until November 26th, 2018|
|Official execution of the Production Sharing Agreements||Until December 19th, 2018|
For further information regarding how to apply, the qualification procedures and any other issue regarding the ANP’s 5th Pre-salt Bid Round, please contact Luis Menezes (email@example.com), our partner responsible for the Oil and Gas Department.