$28 Billion in Investments in the Oil and Gas Sector! Government Estimates That the Amounts Will Be Generated by Extending Contracts for Mature Onshore and Offshore Fields

Written by Roberta Souza

Published on 14/08/2020 at 17:37

Só nesta semana, a Agência Nacional do Petróleo (ANP) aprovou mais quatro prorrogações em contratos de campos maduros

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Only This Week, the National Agency of Petroleum (ANP) Approved Four More Extensions in Mature Field Contracts

US$ 28 billion in investments is the estimated figure by the Brazilian government with the extensions of onshore mature field contracts. Only this week, the ANP (National Agency of Petroleum, Natural Gas and Biofuels) approved four more contracts: Massapê, Cantagalo, Fazenda Azevedo, and Fazenda Boa Esperança. The calculations come from the agency.

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The four fields that had their contracts extended also saw a reduction in the royalty rate on incremental production, which exceeds the initially projected production curve for the field. Therefore, for the production already anticipated for the fields, the royalty rate remains the same as stipulated in the contract. The extra production will have a reduced rate.

According to the National Agency of Petroleum, “Most of these fields come from Round Zero, held in 1998, and would have their contracts expire in 2025. In line with the guidelines of Resolutions CNPE No. 02/2016 and 17/2017, the extensions occur within the framework of the review of the development plans (PDs) of the fields, aiming to increase the field’s lifespan and recovery factor.”

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$28 Billion in Investments in the Oil and Gas Sector! Government Estimates That the Amounts Will Be Generated by Extending Contracts for Mature Onshore and Offshore Fields

Only This Week, the National Agency of Petroleum (ANP) Approved Four More Extensions in Mature Field Contracts

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$28 Billion in Investments in the Oil and Gas Sector! Government Estimates That the Amounts Will Be Generated by Extending Contracts for Mature Onshore and Offshore Fields

Only This Week, the National Agency of Petroleum (ANP) Approved Four More Extensions in Mature Field Contracts

Check Also:

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Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

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