On May 25th, Petrobras submitted to the ANP its first formal manifestation regarding the ANP's 2nd and 3rd Pre-Salt Bid Rounds, deciding that it will exercise its preemptive right in the following areas, with a minimum percentage of 30% in each area:

  • 2nd Pre-Salt Bid Round: unitization area adjacent to the Sapinhoá field; and
  • 3rd Pre-Salt Bid Round: Peroba and Alto de Cabo Frio Central.

Considering that the bid's results confirm the minimum participation indicated above, Petrobras shall pay the amount of R$ 810 million for the signature bonus.

It shall be highlighted that Petrobras can expand the percentage of 30% indicated for the areas where it shall exercise its preemptive right, forming consortiums to participate in the pre-salt bid rounds. Regarding the other areas, Petrobras can participate in the pre-salt bid rounds on equal terms with the others participants, as operator or not.

Petrobras disclosed the flowchart below that summarizes the possible scenarios for the exercise of the preemptive right:

Felsberg remains at your entire disposal for any clarifications that may be necessary in relation to the matter covered above. Should you have any further doubts, please contact Luis Menezes (), our partner responsible for the Oil and Gas Department.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.