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Petrobras May Lose Preference in Pre-Salt Fields If It Relies on Bill

Written by Renato Oliveira
Published on 11/11/2019 at 12:43
Petrobras
Petrobras e projeto de lei que pretende acabar com direito de preferência
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Measure Comes After Petrobras Exercised Preference for Three Pre-Salt Oil Fields in Thursday’s Auction and Acquired Only One

Petrobras may lose priority in the exploration of blocks in the Pre-Salt. The state-owned company has this right guaranteed by law as it was the discoverer of the richest layer of oil on the continental shelf.
After the results of the 6th sharing round auction, which repeated the results of the onerous assignment auction that took place the day before, with Petrobras and the Chinese being the only ones to make purchases in the ANP auctions, the Senate Infrastructure Commission will discuss changes in the pre-salt exploration rules.

The bill (PL 3.178/2019) from Senator José Serra (PSDB-SP) eliminates the preferential option clause that Petrobras has the right to, and a public hearing requested by Senator Jean Paul Prates (PT-RN) aims to hear the opinion of representatives from Petrobras, the government, research institutes, and unions.

What Is Applicable Today

Currently, Petrobras has the right to a minimum participation of 30% as a partner in the winning consortium, but must inform the government before each pre-salt auction if it will exercise this right.
All this mobilization for change is occurring due to the oil company’s decision to acquire (with the Chinese) only one area in Thursday’s auction (6th round), that of Aram, after expressing preference in two others and not submitting bids.

The fact has drawn criticism from the Director-General of the ANP, Décio Oddone, who stated, “The exercise of the right of preference reduces the competitiveness of the bidding.”
Another critic of Petrobras’s initiative was the Minister of Mines and Energy, Bento Albuquerque, who was present at the auction and said upon leaving the event, “The fact that Petrobras defends the right of preference and does not participate must be analyzed. It does not seem sensible to maintain the regime as it is today.”

The Senate Infrastructure Commission will take advantage of the public hearing to discuss changes in the rules and will have the participation of invited guests Fernando Assumpção Borges, Executive Manager of Petrobras; Antônio Guimarães from the Brazilian Institute of Oil (IBP); Paulo Cesar Ribeiro Lima from the Association of Petrobras Engineers (AEPET); and representatives from the Ministry of Mines and Energy, the National Agency of Petroleum, Natural Gas, and Biofuels (ANP), the Institute for Strategic Studies of Oil, Natural Gas, and Biofuels (INEEP), and the Unified Federation of Petroleum Workers (FUP).

Read also! Change of the oil auction regime to concession is advocated by companies associated with the IBP!

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Renato Oliveira

Engenheiro de Produção com pós-graduação em Fabricação e montagem de tubulações com 30 anos de experiência em inspeção/fabricacão/montagem de tubulações/testes/Planejamento e PCP e comissionamento na construção naval/offshore (conversão de cascos FPSO's e módulos de topsides) nos maiores estaleiros nacionais e 2 anos em estaleiro japonês (Kawasaki) inspecionando e acompanhando técnicas de fabricação e montagem de estruturas/tubulações/outfittings(acabamento avançado) para casco de Drillships.

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