Government approves resolution of P&G production contracts

The resolution of the National Council for Energy Policy (CNPE), which aims to authorize the possible extension of the term of concession contracts arising from bids for oil and gas blocks, held from 1999, was approved by President Jair Bolsonaro on Monday (14).

According to the text, the extension will only be valid for fields whose extension of the production period proves feasible beyond the original contractual period. In a statement, the General Secretariat of the Presidency of the Republic said that the measure aims to "authorize the ANP to evaluate the extension of the production phase in mature fields granted to Petrobras within the pre-salt polygon".

Concessionaires interested in the extension of should submit a development plan to the National Petroleum Agency, Natural Gas and Biofuels (ANP), in order to indicate the investments to be be carried out.

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