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Laércio Oliveira Questions Company’s Actions in Gas Sector; Petrobras Reaffirms Its Commitment to Investments in the State.
Senator Laercio Oliveira, from the Progressive Party of Sergipe, revealed on November 15 that he plans to take legal action against the decisions made by Petrobras in the natural gas sector. He intends to bring the matter to the plenary of the Federal Senate next week, so that the complaints are officially forwarded to the Federal Court of Accounts (TCU) and request an audit on Petrobras’s contracting to operate the natural gas regasification terminal in Bahia for the next ten years. They demand explanations from ANP regarding the compliance with the concession contracts of the deepwater fields in Sergipe, which are potential major future producers of natural gas. They also claim that Cade should investigate whether Petrobras intends to postpone the projects scheduled for 2027-2028, possibly aiming to achieve higher prices for natural gas.
Petrobras Denies Postponement of SEAL 1 and 2 Projects
Petrobras reaffirmed that the news about the postponement of the SEAL 1 and 2 projects is false, denying rumors circulated on Wednesday (11/15). The company has faced challenges in contracting production units (FPSOs) over the past three years.
According to Laércio Oliveira, the TCU will conduct an audit to assess the “necessity, economic viability, and costs of the 10-year charter of the FRSU Sequoia by Petrobras.” The Federal Court of Accounts is a control body linked to the Federal Legislative Power.
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In October, Petrobras signed a new contract for the chartering of the FSRU (regasification) from Excelerate, which is already installed at the Salvador terminal.
According to the agreement established with Cade in 2021, Petrobras leased the terminal to the company as part of an initiative to promote the opening of the natural gas market, seeking to increase competition in supply.
After the end of the lease agreement, an agreement was made with Excelerate for the unit to continue operating under the company’s management for a period of ten years.
The senator argues that the terminal in Sergipe, owned by Eneva, could have been considered to meet Petrobras’s demand for imported natural gas more flexibly.
EPBR discovered that the inclusion of Eneva’s asset in discussions with Petrobras was an initiative by the state of Sergipe to protect the interests of the region.
Laércio Oliveira questions the justification for the long-term lease in Bahia given the increasing production of national gas in the upcoming years, through projects like Rota 3, Pão de Açúcar, and Sergipe Águas Profundas, which are known in the market. He highlights the prospect of an increase of more than 50 million m³/day.
In relation to this point, Petrobras preferred not to comment within the timeframe established by EPBR. At the time of announcing 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.
Resumption of Petrobras Plan for Terminals and New Contracts Underway
Petrobras decided to resume a plan that had been postponed due to the energy crisis of 2021, which involves the maintenance of the terminals in the Bay of Guanabara and Salvador, with the transfer of Ceará to the Port of Pecém. Additionally, the company signed a contract with New Fortress for the unit in Santa Catarina.
According to the senator’s advisory, five official letters will be presented to the board of the Federal Senate next week.
The Federal Court of Accounts (TCU) is conducting an audit on the contract between Petrobras and Excelerate for the 10-year charter of the FRSU Sequoia. Meanwhile, the Administrative Council for Economic Defense (Cade) is investigating whether Petrobras’s strategy intends to manipulate natural gas prices in Brazil, referring to the postponement of SEAL 1 and 2. The National Agency of Petroleum, Natural Gas, and Biofuels (ANP) is responsible for overseeing the concession contract of the fields and obtaining information on the history and schedule of obligations compliance for the project Sergipe Águas Profundas.
The Civil House, through the PPI, is responsible for the new PAC. The projects approved by Petrobras in its business plan are incorporated into the Growth Acceleration Program, as in the past.
Representative Laercio Oliveira expresses distrust regarding the guarantees provided by Petrobras in the deepwater project of Sergipe. He also criticizes the lack of alignment of the company with the federal government.
According to the senator, Petrobras and the Ministry of Mines and Energy are not aligned regarding the government’s program, as evidenced by public conflicts between the parties.
After Alexandre Silveira (PSD) took office in January, the ministry began work on the Gas for Employment program. However, there are questions from the ministry regarding Petrobras’s practice of reinjecting natural gas, which reduces the availability of this energy resource and increases oil production.
Reinjection of Oil and Strategies to Preserve the Profitability of Fields
There is an ongoing debate about the real need for oil reinjection to ensure the profitability of extraction fields. EPBR did not seek further clarification from Petrobras regarding this subject. For more information on the topic, the full coverage is available here.
President of Petrobras, Jean Paul Prates, denied a note published in Radar of Veja magazine on November 3. The publication claimed there would be plans to postpone the SEAL project to 2023, due to the entry of BM-C-33 in 2028.
The director of Petrobras reaffirmed the company’s commitment to ensure the execution of projects that will increase the supply of gas in the domestic market. He mentioned the company’s dedication to achieving this goal in a message shared on social media and sent to journalists.
On this day, the company reiterated its commitment, stating that there are no plans to delay the start of the project and that Petrobras is working hard to execute projects that will increase the supply of gas in the domestic market.
The director reinforced the company’s efforts to ensure the execution of projects that will bring greater national gas supply to the market.
Between 2021 and 2022, Petrobras sought to initiate the construction of P-81, a unit for the SEAL 1 project. However, a change in strategy occurred and the company launched a tender for chartering, causing a delay of approximately three months. The deadline for submitting proposals extends until the beginning of 2024.
Generally, a project of this kind typically takes around three years, from contracting to the first oil extraction. Considering the start of operations in 2027, it is expected that Sergipe will begin to have more significant volumes for distribution in the market starting in 2028.
In addition to the gas pipeline infrastructure, it will also be necessary to develop oil fields, which will help increase the profitability of the venture.
Petrobras emphasizes that bidding processes are underway to ensure adherence to the schedule and operations commence as soon as possible.
The company’s business plan for 2024 to 2028 will be approved and disclosed in the coming weeks, according to the current prediction.
Source: EPBR Agency
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