State pre-salt oil seeks new attractions for the upcoming oil auction

The state pre-salt Petroleum (PPSA), responsible for representing the Union in the contracts for sharing, foresees attracting competition in the next auction for the sale of union oil in the Paulista Fellowship B3, predicted to occur between August and September, with more rules Attractive, told Reuters the president of the company, Ibsen Flores.

According to the executive, will be offered 1.8 million of barrels of oil, same volume offered in the first auction in May, which did not register bids of participants. The sale is important for the government to reach its goal of raising 1 billion reais with the oil and gas negotiation of the pre-salt this year.

The pré-edital of the new event should be published next week, already according to new disciplined regulations in Ordinance of the end of June, which allows greater flexibility for potential offerers to seek fairer values for the purchase of the commodity, According to the executive.

"Our expectation is that the next auction is successful. We are working very hard for us to succeed, with a fair value for the union's oil, "said Ibsen, in an interview in his office in Rio de Janeiro.

In the previous auction, PPSA had to prevent the possibility of sale of oil at the last minute by a value below the reference price of the commodity stipulated by the ANP. This hypothesis was foreseen in the rules of the event, but ceased to be valid for the auction in the midst of changes in a provisional measure on the commercialization of oil by the state then in the proceedings in Congress.

The exhibition was only registered by the Anglo-Dutch oil Shell, but the company did not have a proposal for the purchase of oil.

Now, the MP has already been transformed into law and regulated, which should increase the attractiveness of the auction, according to PPSA. "Out of prudence, we understood to do it that way… Today we have the gate and it gives a broader sale condition, "said Flores.

According to the rules of the gate that disciplines the marketing, the PPSA should offer the oil in a first step for a price at least equal to the reference price fixed by the ANP. Subsequently, if they are not interested, PPSA may in the second stage accept offers below the reference price fixed by the ANP, which should be compatible with the market value.

Three lots will be offered, referring to the sale of a year's estimated production of the Union in the fields of Mero, thrush and Lula, in the Santos basin.

Potential participants

The president of PPSA pondered, however, that there are still factors that can limit participation in the next auction, such as Brazil's geographical position, meteorological issues and the fact that there are currently no other players in the country who sell oil in large Volume for third parties within the national territory, as PPSA needs to do.

Potential candidates to participate in the auction are operators who already act in the Brazilian pre-salt, according to Flowers explained, punctuating that is in contact with market companies to present the next event. "It's an additional amount that can be interesting to compose their shipments and even broaden their competitiveness at the particular time they are removing their cargo… (a) greater amount of oil can be interesting to reduce costs, "he said.

But Flowers pointed out that despite having a timid start, this will be a growing market, which will develop in an important way in the coming years. " In three, four years, the Union will have much more expressive oil volume, production systems of the mere field will go into production, and we will have more than 100,000 barrels a day to sell. So the frequency of loads will be much higher and the quantity will be very large, "he said.

To date, the government has sold three loads of oil this year, two of 500,000 barrels and one of 250,000 barrels, as well as a natural gas contract of 230,000 cubic meters a day, all for Petrobras. The values have not been published. The Government, with fiscal difficulties, recounts its resources.

In addition to the sales of cargoes to Petrobras and the planned auction, PPSA expects to receive, later this year, Petrobras and its partners in the field of thrush, values related to production in years spent in the area. According to Flowers, in January, the calculated value was 650 million of reais. The amount, however, will have to go through monetary corrections.

Currently, PPSA represents the union in 10 production-sharing contracts, a number that can grow from auctions of new pre-salt areas this year.

The president said the company, created in 2013, has been structuring over the years to meet the growing number of sharing contracts. According to Flowers, an enlargement of the state's physical facilities in the center of Rio de Janeiro should be bid in the second half.

In addition, he has the expectation of holding a contest next year, for hiring in the second semester, but did not go into details. Today the company has 30 employees in commissioned positions and 14 other temporary ones. Source: Exam.

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