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Pre-Salt - Exploration and Production Rules

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11/30/2016 4:57 PM Demarest News

Pre-Salt - Exploration and Production Rules

It was published today in the Official Gazette the Law No. 13,365/2016, which amends provisions of Law No. 12,351/2010, and revokes the obligations of Petrobras to be the operator in all exploration blocks under the regime of production sharing contracts (Pre-Salt and strategic areas) and to hold a minimum interest of 30%.

According to the new law, Petrobras will have the preference to be the operator and may express its interest to the National Energy Policy Council ("CNPE"). In such case, the Council will present to the Presidency of the Republic the proposal of the blocks to be operated by Petrobras and the minimum interest.

If Petrobras is nominated the operator, its minimum interest in the consortium shall be of, at least, 30%.

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