Petrobras And Oil Companies Urge National Agency Of Petroleum And Natural Gas To Convert R$ 1.8 Billion Local Content Fines Into New Investments

Written by Flavia Marinho

Published on 20/07/2022 at 16:48

Updated on 20/07/2022 at 21:13

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ANP Board Approves First Proposal Presented by Petrobras Worth R$ 855 Million

ANP (National Agency of Petroleum, Natural Gas and Biofuels) has already received 25 proposals from oil companies interested in memorializing conduct adjustment terms (TAC), to convert fines for non-compliance with local content requirements into new investments in goods and services in the national industry. The total requests amount to commitments of R$ 1.887 billion.

The board of the National Agency of Petroleum approved on Thursday (7/14) the first proposal presented by Petrobras. The request covers blocks and fields of operation solely from the state-owned company. These are exploration and production contracts that are expired or have ended phases.

Petrobras Will Invest R$ 855 Million in National Industry Goods and Services by 2026

Petrobras is committed to investing R$ 855 million in goods and services from the national industry by 2026, with certified local content.

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Transforming fines into new investments is stipulated in ANP Resolution No. 848/2021. Under the terms of the resolution, the value of commitments in new orders will be equivalent to 100% of the fine amount.

According to ANP, the 25 requests for TAC celebration received by July 13, 2022, include 26 companies (in consortium or participating in individual projects). They originate from 42 notices of violation related to 53 exploration and production contracts. The agency confirmed that it expects to receive new requests.

The celebration of the agreement is optional. Based on the resolution, the commitment term replaces sanctioning administrative processes – which will be archived.

The proposals received by the National Agency of Petroleum are now under evaluation. The agency will assess the “feasibility and reasonableness of deadlines.”

After a statement from the Federal Attorney General to the regulatory body, the proposals will be forwarded for board deliberation.

Petrobras And Oil Companies Urge National Agency Of Petroleum And Natural Gas To Convert R$ 1.8 Billion Local Content Fines Into New Investments

ANP Board Approves First Proposal Presented by Petrobras Worth R$ 855 Million

Petrobras Will Invest R$ 855 Million in National Industry Goods and Services by 2026

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Petrobras And Oil Companies Urge National Agency Of Petroleum And Natural Gas To Convert R$ 1.8 Billion Local Content Fines Into New Investments

ANP Board Approves First Proposal Presented by Petrobras Worth R$ 855 Million

Petrobras Will Invest R$ 855 Million in National Industry Goods and Services by 2026

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