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Proposal Sent to Congress Aims to Auction Union’s Surplus in Tupi, Mero and Atapu This Year
President Luiz Inácio Lula da Silva submitted to the National Congress on Wednesday a proposal that authorizes the sale, through auction, of all oil and gas production belonging to the Union in pre-salt fields under the sharing regime.
The measure aims to raise around R$ 15 billion by 2025, according to government officials.
This cash boost could help ease revenue pressure, especially in light of criticism over the increase in the Tax on Financial Transactions (IOF), which anticipates revenue of R$ 19 billion this year.
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Currently, in the sharing model, part of the production from pre-salt fields is allocated to the federal government. This portion is sold by the state-owned company Pré-Sal Petróleo S.A. (PPSA).
The new proposal aims to sell the entirety of the Union’s surplus oil in non-contracted areas of the Tupi, Mero, and Atapu fields.
The idea is to anticipate future revenues from the sale of these volumes in 2025. To this end, an auction is planned, the organization of which will depend on an assessment by the National Energy Policy Committee. The committee will be responsible for defining the conditions of the bid and the amounts involved.
Chinese groups are already operating in the Tupi and Mero fields in partnership with Petrobras. Small portions of these fields have yet to be contracted. The proposal specifically aims to auction these percentages.
Initially, the government considered including this revenue in the report that announced the freeze of R$ 31.3 billion in expenses. However, the idea was postponed due to technical issues. The amount can only be officially considered in the Budget after the project’s approval by Congress.
With information from Info Money.
