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ANP received 48 requests to extend the exploration phase of oil and gas blocks, of which 29 have already been approved and 19 are still under analysis.
Oil and gas exploration – Twelve different oil companies have already submitted requests to the National Petroleum Agency (ANP) for the extension of the deadlines for compliance with the exploration programs of their concessions due to the effects of the covid-19 pandemic. Covid-19 impacts shipbuilding in Brazil and China and may compromise the Mero 2 FPSO delivery time
In all, the regulatory body has received, by August 11, 48 requests, of which 29 have already been approved by the agency and 19 are still under analysis.
Eneva was the company that submitted the most requests (17 in total, of which four have already been approved), followed by Petrobras (ten requests, of which nine have already been accepted).
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Total (five, already approved), BP (four, one already accepted), Recôncavo Energia (four, approved), Imetame (two), Equinor (one, approved), Alvopetro (one, approved), Geopark (one, approved ), Phoenix (one, approved), Great Energy (one, approved) and BGM (one, approved) complete the list of operators that requested more time.
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Oil and gas exploration
Exploration is the first phase of exploration and production contracts, in which companies carry out studies and activities (such as seismic and well drilling) with the aim of discovering and/or evaluating oil and gas deposits.
When companies bid for blocks at ANP auctions, they assume minimum drilling and seismic survey commitments, with defined deadlines.
Faced with the effects of the pandemic, which led to an oil price shock in the oil and gas industry and operational restrictions, the ANP decided to open up the possibility of postponing these exploratory deadlines.
The agency allows the postponement of these commitments for nine months. The extension of exploratory deadlines was regulated by the ANP through Resolution 815/2020, published in the context of the health emergency related to covid-19.
According to the regulatory body, the order of analysis of requests considers, among other factors, the proximity of the deadline for extending the contract. The deadline for requesting oil and gas exploration postponements is still open.
Click to see the list of orders received. (published on 11/08/20). The ANP will periodically update the list of requests received and the status of the analysis.
