News and Business
ANP updates tender protocol and concession contracts of the Permanent Offer
The documents establish new provisions for the granting of concession contracts for the exploration or redevelopment and production of oil and natural gas
Subjects
The Brazilian Agency for Oil, Natural Gas, and Biofuels (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis) (ANP) released on July 21, 2020 a new version of the tender protocol and the concession contracts for the Permanent Offer (Open Acreage).
The new version of the tender protocol has already been approved by the Brazilian Federal Court of Auditors (Tribunal de Contas da União) (TCU) and covers 708 blocks with exploratory risk, distributed in 15 Brazilian sedimentary basins, and three areas with marginal accumulations, distributed in the mature sedimentary basins of Espiríto Santo, Recôncavo and Solimões.
Besides introducing technical and economic parameters for the new blocks and areas, the tender protocol updates the technical and economic parameters for the blocks already included in the Open Acreage, mainly concerning the process of defining royalty rates.
We point out that, for the areas with marginal accumulations, the minimum rate for royalties will correspond to five percent (5%). Regarding the areas that are not included within the Pre-Salt polygon of the Campos and the Santos Basins, as well as those areas classified as high potential basins, the royalty rate will correspond to ten percent (10%).
