Home Brazilian government finally decided to open the market to US oil companies

Brazilian government finally decided to open the market to US oil companies

15 May 2017 to 20: 23
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ANP frees US oil companies to explore in Brazil, a new era is emerging

The director of the ANP said that the country is now "engaging for good" economically in the oil and gas sector

Décio Oddone, who is the supreme director of the ANP, officially reiterated in the media that the federal government is raising the oil sector in Brazil to a new level.

During lunch with executives and representatives of this segment, he made a quick speech saying that in a maximum of 3 years, the fossil fuel industry in the country will be stabilized, according to technical projections.

He also reinforces that this is due to the auctions that will take place in 2 months on a regular basis and that Petrobras' divestment program has been showing satisfactory results. She adds that this is a real “metamorphosis” in the sector.

But now comes the bombshell news for the oil producing states or even all of Brazil: The Government has released the entry of US companies into Brazilian territory with full support and flexibility.

This business meeting lunch between oil regulatory agencies and representatives of these companies took place at Amcham Rio (American Chamber of Commerce of Rio de Janeiro)

Any operator can participate

Décio said at this meeting that work is being done to encourage the entry of investment funds from companies that will eventually operate after the auctions, regardless of whether they are medium or large. The solution found so that these same can also operate, was through a consortium. This would make it easier for all companies to implement this project.

Petrobras results

On May 11th (Thursday) Petrobras announced excellent results in this 1st quarter, which gave gas to the industry. Another request that is currently being processed is the request for the extinction of local content in drilling units in the Libra asset, in the pre-salt exploration region in the Santos Basin. the director of the ANP said that he is doing everything to have this measure approved as soon as possible.


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