Fields: MME studies reducing royalties in mature areas

The Brazilian government would be studying, part of the Revitalization and Incentive Program for the Production of Marine Fields (Promar), to reduce royalties from mature fields in the Campos Basin, according to Reuters. The measure would be a way to help operations that would lose attractiveness by the low volumes produced – which is natural and expected in oil reservoirs from a certain time – giving financial breath.

The Campos Basin today accounts for about 25% of the country's oil production, but until a few years ago it was the main producing basin in the sector. In this sense, the idea of the Ministry of Mines and Energy (MME) would be to extend the useful life of these areas, identifying cases in the limit of economicity, for which a reduction in royalties would be welcome.

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