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ANP Discovers Gas Well Explored For 10 Years Without Paying Special Participation. Petrobras Produced 275 Million Cubic Meters On Site With The P-40 Platform Between 2005 And 2015
The P-40 platform, operated by Petrobras and located in the Marlim Sul field in the Campos Basin, explored a well for ten years and produced 275 million cubic meters of natural gas between 2005 and 2015, but did not collect special participations that would benefit the Union, Rio de Janeiro, and producing municipalities, resulting in a public loss that could reach R$ 26 billion.
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According to the Parliamentary Inquiry Commission on Royalties (CPI), currently underway in the Legislative Assembly of the State of Rio de Janeiro, the loss could total R$ 50 million across the three levels of the Executive. The issue was detected by an inspection by the National Petroleum Agency (ANP).
Public Loss Could Reach R$ 26 Billion
In the Alerj, the CPI of Royalties is investigating losses that the state may have suffered from underpayments relating to Special Participations. This instrument is a type of compensation that producers pay for the exploration of highly profitable fields, such as this one, operated by Petrobras, in addition to the royalties routinely paid for oil activity. Of the projected amount, R$ 30 million would be from the Union, R$ 20 million from Rio de Janeiro, and R$ 5 million from producing municipalities.
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The commission estimates that the state of Rio de Janeiro has lost R$ 10.4 billion in underpayments over the last ten years. When added to the amounts related to municipalities and the Union, the public loss could reach R$ 26 billion. The president of the CPI, which is expected to extend at least until the end of August, State Deputy Luiz Paulo (Cidadania) expresses enthusiasm about the discovery.
“It is not a significant amount for the state government’s coffers, but the discovery of a well that did not pay special participations for ten years is, without a doubt, an important precedent. We cannot say there are more points in this situation, as none have been discovered, but it is certainly something that oversight will be attentive to,” says the parliamentarian.
ANP States It Found That Petrobras Was Misaccounting Natural Gas Production At P-40
According to the ANP, Petrobras was misaccounting natural gas production at P-40. The gas from the atmospheric separator was not considered when totaling the platform’s production in the state-owned company’s internal system. “Analyzing the scope of the problem, it was found that this portion of the natural gas produced was not accounted for in Petrobras’ internal systems for 10 years, totaling 275,088,678.89 m³ during the period,” said the agency in a statement.
The agency also highlighted that a board resolution authorizes it to recalculate and add values to be paid through government participations. “Currently, the ANP is calculating the impacts on the collected amounts of government participations (royalties and special participation) related to the addition of these volumes and will charge the additional amounts from the concessionaire, plus interest and late fees, in accordance with current legislation,” concludes the statement.
Petrobras limited itself to confirming the receipt of the letter sent by the CPI of Royalties and that it will respond to the questions within the timeframe established by the Alerj commission.
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