14 companies registered to bid in the Transfer of Rights Surplus auction

September 30, 2019

The National Petroleum Agency (ANP) Special Bidding Commission has registered BP, Chevron, CNOOC, CNODC, Ecopetrol, Equinor, ExxonMobil, Petrogal, Petrobras, Petronas, QPI, Shell, Total and Wintershall DEA to bid in the Transfer of Rights surplus auction, which is scheduled for November 6th.

The National Congress passed the Bill for the transfer of rights, which alters the public spending ceiling and authorizes the government to apportion the auction bonus, part of an agreement to release the readjustment of the contract with Petrobras, of $ 9 billion.

The Minister of Mines and Energy, Bento Albuquerque, said that from the bill’s promulgation of the Transfer of Rights, “it is all right” to hold the auction on November 6, as the agenda foresees.

The auction will be made in the production sharing model and will bid the areas of Atapu, Buzios, Itapu and Sepia. It will be necessary for the agreement between Petrobras and the winner of the auction to discipline the unification of project operation, called co-participation.

The co-participation will also address the compensation to be paid to Petrobras for investments that have already been made in the exploration and production of reserves.

One of the innovations of the auction is to allow companies to split in two payments the signing bonus of the contracts, totaling R $ 106 billion, as long as they offer minimum Union participation in the oil surplus and at least 5%.

Source: epbr