Pre-salt: Government should take preference from Petrobras

The federal government has decided to support a bill (PL) that proposes that the pre-salt areas be auctioned in the concession model and ends up with the right of preference of 30% of Petrobras in oil well auctions. In practice, if the PL is approved, it will result in the withdrawal of the Brazilian state of competition with the market in the bids. The government pretension is to approve the project later this year.

The PL No. 3.178/19 is proposed by Senator José Serra (PSDB-SP) and establishes that the sale of the pre-salt areas is made by the concession model: When who wins the auction is the company that offer the highest bid to the government and assumes the risk of the activity , thus becoming the "owner" of oil.

Currently, pre-salt areas are auctioned in the sharing regime. The Union is regarded as the "owner" of oil and companies as "partners", while, by the rules, Petrobras has the preference of a minimum participation of 30% in bids as a partner of the seller consortium, and must manifest whether it is interested or not to enjoy this Before the commencement of the bidding. The collection of the auction is fixed, and it is the winner who offers the government the highest percentage of oil after slaughtering the cost of exploitation.

If approved, the project will change this model. This means that, in practice, Petrobras will be practically taken from the play in the dispute with the market for oil wells in the country, since, for obvious reasons, the Brazilian state has no condition to compete with large multinationals in the industry Global.

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