On April 5th, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) published the Tender Protocol and Production Sharing Agreements (with and without Petrobras as the operator) of the 4th Pre-salt Bidding Round, that will be held on June 7th, 2018.
The main changes on the documents are the following:
Resumption of offers: the Tender Protocol maintained the resumption of the offers and included a provision that allows the companies to further submit an additional guarantee in the event they do not have the enough guaranteed amount by the time of the resumption. In this case, the winner bidder shall execute an Additional Guarantee Payment Term and can submit such guarantee until the execution of the Production Sharing Agreement.
Please open this link should you like to have access to the Portuguese final version of the Tender Protocol.
Production Sharing Agreements:
Arbitration Clause: in the event of any dispute or controversy related to the Production Sharing Agreement that cannot be solved by the Parties through conciliation or mediation, such dispute or controversy shall be submitted to arbitration in the institution to be chosen in mutual consent by the Parties. However, if the Parties do not reach a consent about the institution, the ANP shall indicate one of the following within 30 days: (i) International Arbitration Court of the International Chamber of Commerce; (ii) London Court of International Arbitration or (iii) Hague Permanent Arbitration Court. Should the ANP does not comply with the deadline, the Parties shall choose one of the three institutions herein indicated.
Please open this link should you like to have access to the Portuguese final version of the Production Sharing Agreement with operation by Petrobras and this link to the one without operation by Petrobras.
The ANP’s 4th Pre-salt Bidding Round will offer the following areas:
Please find below the updated schedule for the following events regarding the ANP’s 4th Pre-salt Bidding Round:
For further information regarding how to apply, the qualification procedures and any other issue regarding the ANP’s 4th Pre-salt Bidding Round, please contact Luis Menezes (email@example.com), our partner responsible for the Oil and Gas Department.