Government delivers data on pre-salt mega auction to TCU

05/05/2019

Ministers Bento Albuquerque (Mines and Energy) and Paulo Guedes (Economy) will deliver this Tuesday to the president of TCU, José Mucio, all documents related to the revision of the Transfer of Rights assignment with Petrobras and the pre-salt mega auction. The bidding round is scheduled for October 28.

The TCU endorsement is seen as necessary to avoid possible legal interference in the auction, which may yield R $ 106.6 billion in subscription bonuses-an amount that companies pay at the time of signing the exploration contracts. The meeting between Mucio, Albuquerque and Guedes is scheduled for 6pm.

The evaluation of the regulatory body is central to the progress of the discussions. The TCU will assess the need for a law on the agreement. The Ministry of the Economy understands that it is necessary only for the realization of the payment to Petrobras.

In an event held by the IBP (Brazilian Institute of Petroleum, Gas and Biofuels) and by the Power360, Mucio stated that the deadline for the TCU to analyze the matter is “very tight.”

The government works with the following schedule:

the pre-announcement must be announced on June 6;

the edict, on August 30;

the auction is scheduled for October 28

the payment, scheduled for December 13.

The government will pay Petrobras US $ 9,058 billion  after review of the first agreement signed in 2010 for oil exploration in pre-salt blocks – Transfer of Rights assignment.

The agreement is a requirement for the auction since the contract for the Transfer of Rights assignment, signed by Petrobras and the federal government, which allowed the state company to explore 5 billion barrels of oil in the pre-salt without bidding.

Source: Portos e Navios

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