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A Transfer To Further Boost Recovery In The National Oil Sector.
Executive Secretary of the Ministry of Finance, Ana Paula Vescovi, announced that the government is close to finalizing an agreement with Petrobras regarding the onerous transfer. This transfer refers to a contract agreed upon in 2010, in which the government ceded part of the pre-salt area to Petrobras, which holds the right to explore 5 billion barrels of oil. Due to a discovery of a larger volume of oil in the area, the government will sell this excess. She also emphasized that the agreement will not rely solely on the government and noted that a bill allowing the negotiation of the onerous transfer of the pre-salt has already been approved in the Chamber of Deputies and is awaiting consideration by the Senate.
It is already known what the contractual difficulties are in clarifying some clauses, with studies already taking place within the TCU. After the project is approved by Congress, it will be possible to draft the notice and make the necessary adjustments to the contract. Technical and legal conflicts regarding changes to the agreement took two years. To discuss the measures, the government established a committee, with participation from Petrobras and the Tribunal de Contas da União – which analyzes the terms of the bidding notice for the excess in the area of the onerous transfer.
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As this excess belongs to the Union, there is a care to preserve Petrobras’ rights and generate competition through the process, where the bidding will be important to reactivate investments in the oil sector.
Other measures taken by the government will also reactivate the sector by providing more security for investors and predictability, such as the prior announcement of the rounds by the National Agency of Petroleum (ANP).
According to Planning Minister Esteves Colnago, it is necessary to advance on the issue of the transfer to have “a legal framework that provides comfort to the Technicians,” facilitating the signing of the agreement with Petrobras.
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