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Senator Laércio Oliveira Challenges Company Decisions in the Gas Sector; Petrobras Affirms Commitment to Investments in the State.
Senator Laércio Oliveira (PP/SE) announced plans to take legal action against Petrobras‘ decisions in the natural gas market. He intends to present the matter to the Federal Senate plenary next week, aiming for complaints to be officially forwarded to the Federal Court of Accounts (TCU) with a request for an audit of Petrobras’ contracting over a period of ten years at the natural gas regasification terminal in Bahia.
The ANP is being urged to provide clarifications regarding compliance with the concession contract for deep-water fields in Sergipe, which are expected to become major producers of natural gas in the future.
It is alleged that Cade should investigate whether Petrobras has an interest in delaying projects initially slated for 2027-2028, aiming to obtain higher prices for natural gas.
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Petrobras Denies Rumors About Project Delays
Petrobras denied the information regarding the delay of projects SEAL 1 and 2, reaffirming this on Wednesday (11/15) in a statement to epbr. The company has faced challenges in contracting production units (FPSOs) over the last three years.
Laércio Oliveira suggested that the TCU conduct an audit to assess the necessity, economic viability, and costs of the charter for 10 years of the FRSU Sequoia by Petrobras. The TCU acts as a complementary body to the Federal Legislative.
In October, Petrobras once again contracted the FSRU (floating regasification unit) from Excelerate, which is already operating at the Salvador terminal.
In 2021, Petrobras leased the terminal to Excelerate as part of an agreement established with Cade. This measure aimed to promote the opening of the natural gas market, expanding competition in the product offering.
The Sergipe unit, previously leased, is now under the company’s control following a ten-year agreement made with Excelerate, ensuring its continuity.
The senator argues that the Sergipe terminal, owned by Eneva, could have been an option to meet Petrobras‘ demand for imported natural gas, providing flexibility in supply.
The inclusion of Eneva’s asset in discussions with Petrobras was an initiative by the state of Sergipe, intending to defend the region’s interests, according to information obtained by epbr.
Laércio Oliveira raised doubts about the long-term lease in Bahia, considering that the market forecasts a significant increase in national gas production in the coming years, due to the Rota 3, Pão de Açúcar, and Sergipe Deep Waters projects. He questions the justification for this lease in light of this growth perspective.
Regarding this issue, Petrobras opted not to comment due to the deadline set by epbr. In the announcement of the contract with Excelerate, the company stated that the terminals in Bahia and Rio de Janeiro ensure high levels of reliability and flexibility in delivering natural gas to its clients.
Petrobras Plan for Oil Terminals Is Resumed
The decision by Petrobras to maintain the terminals in Guanabara Bay and Salvador while leaving Ceará available for the Port of Pecém was reaffirmed after being postponed due to the energy crisis in 2021. Additionally, the unit expected to head to Santa Catarina has contracted with New Fortress.
According to the senator’s office, five official requests will be submitted to the Senate’s board next week.
Entities like the Federal Court of Accounts (TCU) conduct audits on contracts signed by Petrobras, such as the charter for 10 years of the FRSU Sequoia with Excelerate. Additionally, the Administrative Council for Economic Defense (Cade) investigates whether Petrobras‘ strategy aims to manipulate natural gas prices in Brazil, considering the risk of delaying the SEAL 1 and 2 projects. Meanwhile, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) is responsible for overseeing the concession contracts for the fields and obtaining the history and schedule of the Sergipe Deep Waters project, ensuring compliance with established obligations.
The Civil House, through the PPI, is responsible for coordinating the new PAC. As done previously, the projects approved by Petrobras in its business plan are integrated into the Growth Acceleration Program.
Deputy Laercio Oliveira is questioning the guarantees provided by Petrobras regarding the deep-water exploration project in Sergipe. He also criticizes the company’s lack of alignment with the federal government and demands clarifications from Petrobras itself.
According to the senator, Petrobras is not aligned with the government’s program, as evidenced by public conflicts with the Ministry of Mines and Energy.
Following Alexandre Silveira’s (PSD) inauguration in January, the Ministry of Mines and Energy launched the Gas to Employ program, which raised questions about natural gas reinjection by Petrobras, alleging that such practice reduces the energy supply and increases oil production.
Controversy Over the Need for Reinjection in Oil Fields
There are debates surrounding whether total reinjection is truly essential to maintain the profitability of oil fields. EPBR did not seek further clarification from Petrobras on this issue. For more details, check out the full coverage of the topic here.
On November 3, Petrobras‘ president, Jean Paul Prates, refuted the accuracy of a note published in Radar by Veja magazine. This publication claimed there would be interest in delaying the SEAL to 2031, due to the entry of BM-C-33 in 2028.
In a message posted on social media and sent to journalists, Petrobras director Prates stated that the company is dedicating all efforts to ensure the execution of projects that will increase the supply of national gas in the market.
The company also emphasized that there are no plans to delay the start of operations of the project, reiterating its commitment to meeting established deadlines.
This stance demonstrates Petrobras‘ commitment to providing a greater supply of national gas, contributing to the development of the country’s energy market.
Between 2021 and 2022, Petrobras sought the contracting of P-81, a unit owned to serve SEAL 1. However, there was a shift in the company’s strategy this year, leading to the launch of a bidding process for charter. This new plan ended up delaying the process by about three months, and the final deadline for submissions has been extended until early 2024.
Generally speaking, a project of this type usually takes about three years, from contracting to the production of the first oil. With the expected start of operations in 2027, it is anticipated that Sergipe will begin to have more significant volumes to be transported to the market starting in 2028.
The construction of the gas pipeline and the development of new oil fields will be essential to increase the project’s profitability.
Petrobras reiterates that bidding processes are underway to ensure that the schedule is met and that operations begin as soon as possible.
The company’s business plan for the period from 2024 to 2028 will be submitted for approval soon and disclosed by the end of the month, according to the current forecast.
Source: EPBR Agency
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