All of this should generate investments of around R$300 or R$400 billion. Oddone also highlighted the revitalization of mature oil fields in the Campos Basin.

This Tuesday, October 29, the director general of the ANP, Décio Oddone, informed that an average of 60 oil platforms should be installed in the Brazilian offshore with the new oil auctions that will be carried out by the Agency. The executive's statement took place during breakfast at OTC Brasil 2019.  In parallel, Petrobras wants to find buyers for its refineries in the Gulf.

“All of this should generate investments of around R$300 or R$400 billion. It is transformative for the industry as a whole,” said Oddone.

The need is proportional to the recent rounds and those scheduled for 2019 and 2020, including the surplus from the transfer of rights and the 6th pre-salt round, scheduled for November 6th.

in a short time the Agency will publish the resolution, which defines rules for the decommissioning of fields and platforms, added Addone.

Onshore and shallow water activities in Brazil will unlock, due to reserve based lending, along with the norm and royalty reduction for incremental production of mature oil fields.

• Oil market reheats and 400 jobs are expected to be created.
• With a focus on the pre-salt layer, Petrobras accelerates decommissioning in the Campos Basin
• 5 jobs will be created in Rio de Janeiro with the decommissioning of 21 platforms in the Campos Basin

A reserve based lending operation is one in which the financing amount is determined by the present value of the reserves to be produced and the debt amortization is made with the proceeds from the sale of oil and gas produced. The measure was regulated by the ANP this year.

The executive also highlighted the revitalization of mature oil fields in the Campos Basin and the Agency's decision to set a deadline for Petrobras to define what it will do with 250 fields in shallow waters in the Northeast.

“We are going to see this industry reborn. We are after decades of seeing the replacement of a monopoly by an industry,” she commented.

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