Tuesday 2 October 2018

The 5th Production Sharing Round, held on September 28 by ANP, had all its four blocks acquired: Saturno, Titã, Pau-Brasil e Sudoeste de Tartaruga Verde. The Round raised R$ 6,82 billion in signing bonuses and R$ 1 billion in planned investments on the exploration phase. The goodwill of the profit oil offered was 170,58%.

Present at the event were the minister of Mines and Energy, Wellington Moreira Franco, the Ministry’s executive secretary, Márcio Félix, the ANP directors, Décio Oddone, Aurélio Amaral, Dirceu Amorelli, Felipe Kury and José Cesário Cecchi, and other authorities.

In the bids under the production-sharing regime, the winning companies are those who offer the Brazilian State, from a minimum percentage set in the tender protocol, the largest portion of oil and natural gas produced (i.e., the largest portion of profit oil). The signing bonuses, also defined in the tender protocol, are fixed.

According to the law in force, Petrobras has the right of first refusal to act as the operator in blocks of the pre-salt and those considered strategic. The company opted to be the operator, with a 30% share, in the area of Sudoeste de Tartaruga Verde.

The 5th Production Sharing Round continues the multiannual calendar of rounds, instituted by the National Energy Policy Council (CNPE), which provides auctions until 2021. Since 2017, six auctions have been held. In addition, the Open Acreage of areas started this year. It consists of the continuous offer of fields and blocks returned (or in the process of being returned) to ANP, and exploration blocks offered in previous rounds but not acquired.

Full announcement