On May 11th, the National Council for Energy Policy (“CNPE”) published in the Union’s Official Gazette two ordinances: one related to the ANP’s 5th Pre-Salt Bid Round and the other to the local content applicable on the areas under permanent offer.
Regarding the local content applicable on the areas under permanent offer, the CNPE established that its percentage shall be at least the following:
|Production Development||Well construction||25%|
|Offshore production rigs||25%|
It provides that the areas of Saturno, Titã, Pau-Brasil and Sudoeste de Tartaruga Verde, in the Santos and Campos Basins, will be offered in the ANP’s 5th Pre-Salt Bid Round.
The minimum percentage of the Union’s profit oil, considering the price of the oil Brent of US$ 50.00 and the average daily production of 12,000 barrels of oil per active production well, and the signature bonus shall be the following for each area:
|AREA||UNION’S PROFIT OIL |
|SIGNATURE BONUS |
|Sudoeste de Tartaruga Verde||10.01||70,000,000.00|
The local content applicable to Saturno, Titã and Pau-Brasil in the exploration phase will be at least 18% and in the production development phase shall be at least 25% for well construction, 40% for offloading system and 25% for offshore production rigs. Regarding the local content applicable to Sudoeste de Tartaruga Verde, which is an area to be submitted to unitization, the applicable percentage will be the same from the adjacent area of Tartaruga Verde, under concession.
Petrobras shall, within thirty (30) days from the publication of the CNPE’s Ordinance No. 4/2018, to inform about its preemptive right on the operation of each area.
It was not provided the date when the ANP’s 5th Pre-Salt Bid Round will be held, but it is expected to happen in the second semester of 2018.
It was also authorized by the CNPE’s Ordinance No. 04/2018 the execution by the ANP of the studies regarding the prospects of Aram, Sudeste de Lula, Sul and Sudoeste de Júpiter and Bumerangue, in the Santos Basin, for the ANP’s 6th Pre-Salt Bid Round, expected to be held in 2019.
Felsberg Advogados remains at your entire disposal should you need any clarification. Should you need any further information regarding the above, please contact Luis Menezes (firstname.lastname@example.org), our partner responsible for the Oil and Gas Department.
OIL AND GAS DEPARTMENT
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.