From 2020 onwards, the government will transfer part of the R$17 billion from the Social Fund supplied with pre-salt resources to the States and municipalities. Created in 2010, the fund serves as government savings in order to finance the Country's development, in the event of a reduction in the collection of oil (Special Participations-PE).
Currently 100% of the Social Fund belongs to the Union. The percentage that will be transferred to States and municipalities in 2020 has not been defined. The value of R $17 billion is a projection of the National Petroleum Agency (ANP) for resources obtained with oil exploration scheduled for this year. However, it is possible that the number is even greater due to the auction of the onerous assignment area and the surplus.
The surplus volume bid should take place on October 28th. In a contract signed between Petrobras and the Union, in 2010, the state was allowed to exploit 5 billion barrels of oil in the Santos Basin, whose payment was R $74.8 billion. However, the government's estimate is that the income area 1 billion BP more than the contractor and this surplus will go on sale.
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