MME approves edict and models of Production Sharing Contracts for the Transfer of Rights Surplus Bid

Sept 9, 2019

The Ministry of Mines and Energy (MME) approved the edict and the models of the Production Sharing Agreements, prepared by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) for the bidding of Transfer of Rights Surplus in the areas of Atapu, Buzios, Itapu and Sepia, scheduled for November 6, ensuring predictability of the auction agenda.

The edict innovates by enabling the payment in installments on the occurrence of a premium of at least 5% on minimum rates of excess oil to the union.

This is an important step in the process of promoting the rational exploitation and appreciation of the petroleum resources contained in the Transfer of Rights areas that exceed the maximum contracted volume. These excess volumes will be auctioned under the production sharing regime according to the guidelines established by CNPE Resolution No. 02/2019 and pursuant to Law No. 12.351 / 2010.

With this approval, the ANP is authorized to publish the auction notice, with the deadline of Sept 23 for companies to express their interest in participating in the round.

Source: MME

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