Pre-Salt Oil Auction Will Have 14 Companies, Here Are the Details

Oil Attracts 14 Of The World’s Largest Oil Companies To The Mega Auction Of The Surrender Fee Happening This November

After Click Oil and Gas reported that Petrobras And 6 Other Foreign Oil Companies Are Eyeing The Surrender Fee Auction, the results of the final registrations, announced by the Special Bidding Commission of the National Petroleum Agency (ANP), were better than expected.
14 companies registered for the auction of the surplus of the surrender fee, which is scheduled for November 6 of this year.

One of the main points of extensive negotiation was the approval of the PEC that changed the public spending ceiling and authorized the government to carry out the distribution of the surrender fee bonus.
As a result, Petrobras may receive US$ 9 billion due to a contract adjustment agreement as a way to compensate for the investments made by the oil company in the blocks that will be auctioned.

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For Petrobras to receive the amount, an agreement between Petrobras and the auction winner will be necessary to define the co-participation model.
The mega auction of the surrender fee, as it became known, will follow the production sharing model and will auction the areas of Atapu, Búzios, Itapu, and Sépia.

The companies interested in the oil from the fields are: BP, Chevron, CNOOC, CNODC, Ecopetrol, Equinor, ExxonMobil, Petrogal, Petrobras, Petronas, QPI, Shell, Total, and Wintershall DEA.

The novelty of this auction is that the oil companies can split the signing bonus of the contracts, which are expected to be R$ 106 billion, provided they offer a minimum participation of the Union in the surplus oil of at least 5%.

The surrender fee agreement was signed in 2010, where Petrobras and the Union agreed that Petrobras would pay for the right to explore 5 billion barrels from the Pre-salt, in the Santos Basin.
As the surplus per contract belongs to Petrobras, an agreement is necessary, as such a sale was not anticipated in the contract (the oil reserves turned out to be much higher than forecasts).

Also Read! RJ Will Close In The Black Thanks To Surrender Fee Money, Says Governor!