ANP approves resolution that creates the Exploratory Work Plan
On April 28, 2022, the National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) Board approved the Resolution 76/2022, which creates the Exploratory Work Plan (“PTE”).
The normative comprises the requirements and procedures for the presentation and subsequent approval of the Plan by companies that have exploration and production contracts of oil and natural gas.
The resolution seeks to unify the Annual Work and Budget Program (PAT/OAT) of the Exploration Phase and Plan, which is mandatory in case of production sharing agreements, into a single instrument in order to reduce the recurrence of information and enable the receipt of more structured data by the ANP.
ANP intends to increase its capacity to review exploration and production agreements (E&P) in the exploration phase and operators will have reduced efforts to send information and clarity with regards to the rules to which they are subject.
In addition, the Brazilian society will be able to benefit from high quality information made available in the publications to be made by the Agency.
Our team is available to provide further information on the matter.