Government creates committee to propose improvements in auctions

On Monday (13), President Jair Bolsonaro signed a decree approving the creation of the Program for the Improvement of Bids for Exploration and Production of Oil and Natural Gas (Bidsim). The program will propose improvements in future oil and gas bids and will operate through an interministerial committee.

The new measure aims to increase competitiveness and attractiveness of the areas to be auctioned. In the most, the executive committee will be composed of two members of the Ministry of Mines and Energy, two from the Civil House of the Presidency of the Republic, two from the Ministry of Economy – one of them being the Special Secretariat of the Partnership Program of investments – and two from the National Agency for Petroleum, Natural Gas and Biofuels (ANP).

According to the decree, the committee will have 180 days to complete their work, but the deadline may be extended if necessary. The initiative comes after The Minister of Economy, Paulo Guedes, requested that the prioritize the analysis of some bills, including one that provides for changes in the production sharing regime adopted in bids for areas of pre-salt exploration.

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