RIO DE JANEIRO – Petrobras has submitted to Brazil’s National Energy Policy Council its first formal statement on its preferential right for exploration blocks under the country’s production sharing regime.
The company decided to exercise its preferential right, with a minimum interest of 30%, in:
- Second Round: unitizable area adjacent to the Sapinhoá field
- Third Round: Peroba and Alto de Cabo Frio Central.
Petrobras added that it may opt to expand its 30% stake in areas where it is exercising its preferential rights, forming consortia to participate in the bids.
As for blocks in which the company has not exercised its preferential rights, it may decide to participate on equal terms with other bidders, whether this means acting as operator or non-operator.