Home Business Petrobras Wants to Use Preemptive Right For the 6th Round of Bidding

Petrobras Wants to Use Preemptive Right For the 6th Round of Bidding

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Petrobras said it submitted, at Jan. 14th, to the National Energy Policy Council (CNPE) that it intends to exercise the state’s preemptive right for the sixth round of exploratory block bidding under the production sharing regime. The event is scheduled for the second half of 2019.

According to the company, after a technical analysis, approval of the executive board and deliberation of the board of directors, the company concluded that it should express interest in exercising preemptive rights in the blocks of Aram, North Brava and Southwest Sagittarius as operator and with the percentage of 30%.

According to the state company, the value corresponding to the subscription bonus to be paid by it will be $ 1.8 billion if the result of the auction confirms the level of participation that defined when expressing interest in the event.

The company also said it could increase the percentage of 30% indicated for the area where it is exercising its preemptive right, forming a consortium to participate in the bidding.

In areas where Petrobras has not exercised preemptive rights, Petrobras has stated that it may participate on equal terms with other bidders, whether acting as operator or non-operator.