With New Investments in the Two Fields, Ministry of Mines and Energy (MME) Expects That Oil and Gas Production Will Be Significantly Elevated
On next Friday, December 17, the auction for the Atapu and Sépia fields will take place, which, according to the Ministry of Mines and Energy (MME), should provide them with new investments of R$ 204 billion, increasing gas and oil production by 12%.
The expectation is that 160,000 new direct and indirect jobs will be generated, in addition to the collection of R$ 120 billion with government shares and taxes for the Government. The auction for the Atapu and Sépia fields will have a signing bonus of R$ 11.1 billion, and of this amount, states and municipalities will receive about R$ 7.7 billion, according to information from the MME.
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This will be the second time that the National Agency of Petroleum, Natural Gas and Biofuels (ANP) auctions Atapu and Sépia. This action is part of a capitalization agreement between Petrobras and the Government, called onerous assignment, carried out in 2010 in exchange for shares of the oil company.
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This agreement enumerated the exploratory actions that Petrobras could perform – exploring up to 5 billion barrels of oil and gas and six fields. However, the oil company found more than allowed, configuring the excesses of the onerous assignment. In 2019, the first auction was held to sell the excesses from the Búzios and Itapu fields.
The Last Auction
From now on, the ANP is likely to auction oil fields only through the Permanent Offer, a bank of continuous offers that are auctioned based on investor interest. Thus, this may be the last major auction of the Agency.
The Permanent Offer already includes the 18th Round of Concessions and the 7th and 8th Rounds of Production Sharing, which were in progress at the ANP. Additionally, other fields that did not have offers in previous auctions have also been included.
About the ANP
The National Agency of Petroleum, Natural Gas and Biofuels was founded by Fernando Henrique Cardoso, along with the National Congress, and began activities in 1998. It is the regulatory body responsible for the activities of the petroleum and natural gas and biofuels industries in Brazil.

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