Monday , January 18 2021

The plenary meeting approves the urgency for the joint project task – Senate Nevs



The plenary session of the Senate approved on Wednesday (7) an urgent request to vote on the House Proposal (PLC) 78/2018, allowing Petrobras to transfer up to 70% of its investigative rights to private oil companies. in the pre-salt area. The proposal was drafted by federal deputy Jose Carlos Aleluia (DEM-BA) and is expected by the three commissions at the plenary assembly: the Constitution, Justice and Citizenship (CCJ); Economic Affairs (CAE); and Infrastructure Services (CI). With the approval of the request, the project will be included on the agenda of the next session of the House hearing.

What the Senate will appreciate is the replacement granted by the Cleaner House to the original text, in which oil should be subjected to over five billion barrels in the production-sharing regime, after considering the allocation agreement between the Union and Petrobras. Independent Certificate Studies Gaffnei, Cline & Associates – contracted by the National Agency for Oil, Natural Gas and Biofuels (ANP) – estimates that it fluctuates between 6 and 15 billion barrels of surplus volume for funds granted to Petrobras.

With the required borrowing project, the Union can guarantee a R $ 100 billion revenue with the sale of Petrobras surplus oil from the salt extract.

Small licenses

The text states that, contrary to what is foreseen for the state-owned company, contracts for the exploitation of surpluses in the pre-salt will not set the limits for the extraction of equivalent oil barrels. They can also find, if they are foreseen in the public notice, research and production of this surplus volume even in areas that Petrobras does not return. It is important to note that, like Petrobras, private oil companies will be entitled to pay Union copyrights below standards (10%, instead of 15%) for oil withdrawn from the area under concession.

The second point of PLC 78/2018 is a waiver of the submission of a bid and contract regime in case Petrobras participates in the consortium for salt research. However, this advantage should be limited to contracting goods and services exclusively addressed to the requirements of these consortia. According to the Biennial Energy Expansion Plan of 2026, oil production within the sales regime would increase from zero in 2017 to 1.7 million barrels of oil a day almost ten years later.

Compensation

During a discussion on the revision of the grant agreement between the Federal Government and Petrobras, the government and the state are losing their hands in compensation for losses caused by the devaluation of the price of barrels of oil during this authorized operation. Despite the acknowledgment that Petrobras had claims at the end of the process, the government has not yet closed the amount of this fee, which may be equivalent to 1 or 2 billion barrels.

As for this review, PLC 78/2018 imposes its reasoning on technical reports prepared by independent certification bodies. It also defines some parameters for calculating this compensation, recognizing the payment in cash or barrels of oil extracted from the assigned area itself. Finally, it establishes that the monetary adjustment of the costs associated with this revision takes into account the arithmetic mean of the index of producers and consumer prices used in the United States market.

With the information of Agencia Camara Nevs

Agency of the Senate (Reproduction authorized by the quotation of the Senate Agency)


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