Petrobras Preemptive Rights
In accordance with Law no. 12.351, dated 10/22/2010, and with Decree 9,041, of 05/02/2017, the National Council of Energy Policy (CNPE) published on 06/05/2018 in the Official Gazette of the Union the CNPE Resolution No.6/2018, which establishes the mandatory participation of Petróleo Brasileiro SA (Petrobras) as operator in the production sharing contracts in the Southwest area of Tartaruga Verde, offered in the 5th Production Sharing Bidding Round.
Pursuant to article 4 of Decree No. 9,041 / 2017, in the event of exercising its right of first refusal, after the conclusion of the bidding process, Petrobras:
I - will compose the consortium with the winning bidder, if the percentage of the surplus in oil of the Union offered in the auction for the area bid is equal to the minimum percentage established in the bid; or
II - the consortium may compose with the winning bidder if the percentage of the Union's oil surplus offered in the auction for the bidding area exceeds the minimum percentage established in the bid notice, and must express its decision during the bidding round.
Under the terms of the bidding documents for the 5th Production Sharing Bidding Round, CEL will call Petrobras to manifest its decision in consortium with the winning bidder.
Petrobras representatives will be sent by a member of CEL and ANP servers to a room located near the main auditorium where they will meet to make the decision.
A time of 5 (five) minutes will be granted for the displacement and a term of 30 (thirty) minutes for the decision making. Petrobras' decision will be formalized through a form of expression of interest, completed and signed by an accredited representative and delivered to CEL.
If Petrobras decides not to compose a consortium with the winning bidder, CEL will disclose the new participation percentages of the bidders and the new operator contained in the recomposition form previously submitted.
Such provision shall not be applied if the percentage of the oil surplus for the Union offered is equal to the minimum percentage established in the notice or if Petrobras is the winning bidder, alone or in a consortium.
Please be informed that the registration for attending the public session of the 5th Production Sharing Bidding Round is closed as there are no more seats available.
Registered attendees must pick up the badges on September 28th 2018, from 8am to 8:45am at Grand Hyatt hotel, located at Av. Lúcio Costa, 9600 – Barra da Tijuca, Rio de Janeiro. Only registered attendees will be able to access to the public session.
For those interested, we remind that the event will be live broadcasted on www.anp.gov.br