Newsletter Energy and Natural Resources | Oil & Gás 10 dez 2020

Newsletter Energy and Natural Resources | Oil & Gás

BUSINESS OPPORTUNITIES IN OIL AND GAS

Aiming to provide information regarding business opportunities in Brazil to our clients and business partners, especially in regard to the Oil and Gas area, we present below information related to the most recent opportunities released in the context of the activities involving said industry.

1)  ANP 17th Bidding Round

The ANP board of directors has decided to resume the 17th Bidding Round and defined its indicative schedule of events.

In addition, the Agency has also approved the reorganization of six blocks in the SSAUP-5 sector. Thus, blocks S-M-1617, S-M-1619, S-M-1729 and S-M-1731 became grouped in one block (S-M-1617). The same happened with the blocks S-M-1613 and S-M-1615 which are now centered in S-M-1613 nomenclature.

Due to the modifications, the 17th Round will offer 92 exploratory blocks, which are located in 11 sectors of four sedimentary basins: Campos, Pelotas, Santos and Potiguar.

Among the blocks to be offered in the 17th Bidding Round, 3 blocks are located in sector SSAUP5, in the Santos Basin, and cut outside the limit of 200 nautical miles.  Production in reservoirs located beyond this limit will be subject to the payment of the contribution to the International Seabed Authority, under the terms of the draft of concession agreement published jointly with the pre-tender protocol of said Bidding Round.

See below the main events of the indicative timetable published by the ANP:

Publication of the tender protocol 07.27.2021
Deadline for application 08.11.2021
Public session for submission of bids 10.07.2021
Deadline for qualification of the winner bidder 10.18.2021
Deadline for payment of the signature bonus 02.16.2022
Execution of the concession agreements By 03.31.2022

 

Click on this link to access the pre-tender protocol and the draft of concession agreement.

 

2) Reduction of Royalties Rates for Small and Medium-Sized Companies – ANP

ANP recently informed that it will hold a Public Hearing and Consultation No. 19/2020, aiming to obtain resources and additional information on the draft of Resolution dealing with the reduction of royalties for small and medium-sized companies.

According to the Resolution’s draft, royalties’ rates can be reduced by 5% of their initial value for fields operated by small companies. As for medium-sized companies the reduction will be of 7.5%. The incentive also applies to consortiums composed by small and medium-sized companies. Regarding to the company classification (as small or medium-sized), it shall follow the definitions of ANP Resolution No. 32/2014.

The draft disposes, among other provisions, that the rate reduction request must be made by means of a formal request from the operator of each field, being essential that the requesting company (i) acts in compliance with the obligations provided by the concession agreement; (ii) acts in compliance with the obligations related to government and third party interests under all concession agreements to which they are a party; as well as (iii) presents tax and labor good standings certificates.

Public Hearing No. 19/2020 will take place by videoconference on March 3, 2021, from 10 am to 1 pm, and suggestions and inputs on the draft resolutions must be sent to the following e-mail address consulta.audiencia.spg@anp.gov.br, between November 5, 2020 and February 2, 2021.

The text of the draft Resolution, as well as the participation forms and other consultation and hearing documents can be fully accessed through this link.

 

3) Marlim Complex

Petrobras recently released the process for the sale of 50% of its participating interests (non-operator) in the concessions of the so-called Marlim Complex, located in the Campos Basin. Petrobras will remain the assets’ operator and will still own the other half of such concessions’ working interests.

Marlim Complex includes the deep water concessions of Marlim, Marlim Leste, Marlim Sul and Voador, being the 3rd largest offshore producer complex in Brazil and the 4th largest of the continent.

There is a plan for revitalization, in a short term, of fields located in the Complex, with a significant potential of accumulations in pre-salt. Also, Marlim Complex is composed by concessions from Round Zero, which agreement does not impose any local content obligations.

Interested parties shall notify Scotiabank, Petrobras’ financial advisor in connection to this deal, up to December 11, 2020, to express their interest in the opportunity and receive the documents required to apply for the offer, which shall be sent dully signed by the potential buyers. The communication between the parties must be through any of the following email moncef.attia@scotiabank.com and/or alonso.mago@scotiabank.com.

Click on this link to access the teaser.

4) Petrobras’ Contracting Opportunities 

As a continuation to the Newsletter published on November 6, 2020, we highlight below some of the main contracting opportunities recently released by Petrobras, currently in due course and subject proposals submission:

 

1)  Object: Supply of FPSO.

Deadline for bids: Up to January 18, 2021, 6:00 pm.

Legal Regime: Public Bidding, Law No. 13303, Art. 28, caput

Petronect Code: 7003312068

 

We remain available to clarify your questions and offer any support required.

KEY CONTACTS:

David L. Meiler
Partner
T: +55 21 3262 3006
E: david.meiler@cmalaw.com

Bárbara Bittencourt
Associate
T: +55 21 2217 2070
E: barbara.bittencourt@cmalaw.com

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