MME discloses pre-salt rules by PPSA

The Official Gazette of the Union published on Tuesday (26) the Ministry of Mines and Energy (MME), with the rules for disciplining the marketing of petroleum, natural gas and other hydrocarbons obtained from the pre-salt, by the petroleum Oil Company ( PPSA).

Created in 2010, the company is responsible for managing the production-sharing contracts for the exploration and marketing of these products. It represents the union in the procedures for individualization of production and in the agreements arising in cases where deposits from the pre-salt area and strategic areas extend to areas not granted or not contracted under the production-sharing scheme.

In addition to disciplining the marketing of these products, the MME's Porter presents the guidelines for the marketing of the volumes of oil, natural gas and other fluid hydrocarbons destined for the union.

Among the guidelines presented by the Office are that the company has to meet the objectives of the Brazilian energy policy, and that the marketing of the products will be made "preferably by auction".

Within the framework of the PPSA guidelines, it is to minimise the risks of the Union during marketing; and the adoption of rules on dispute settlement that include conciliation, mediation and arbitration.

The prices to be used by the Company shall be those of reference fixed by the National Agency for Petroleum, Natural Gas and Biofuels (ANP). The company will be the role of representing the Union for the purposes of transferring the property of oil, gas and other fluid hydrocarbons in the union.

According to the gate, it will be up to MME to establish, in the remuneration agreement with PPSA, mechanisms for the provision of annual accounts relating to the marketing of these products, which includes independent audits of financial statements.

It will also be up to MME to approve the results of these accounts and to measure the efficiency of the PPSA as the manager of the marketing contracts.

According to MME, the expectation is that, with the regulation of PPSA's operations, the Union raise about R $1 billion by the end of the year, from the oil and gas revenues marketed. By way of note, the Ministry has reported that this money will be destined to the coffers of the Social fund. Source: Pernambuco Leaf.

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