On September 11, 2020, Brazil's National Agency of Petroleum, Natural Gas and Biofuels ("ANP") published in the Official Gazette the schedule for the 2nd Cycle of the Permanent Offer, initiated upon approval of a declaration of interest, accompanied by a bid guarantee, submitted by a company already enrolled in the Permanente Offer proceeding.

As detailed in our previous legal update on the subject, the cycles of the Permanent Offer are related to public sessions for presentation of offers for one or more sectors that have received a declaration of interest.

Companies not yet enrolled in the Permanent Offer must submit the registration documents by September 21, 2020. Bidders already enrolled and interested in participating in the 2nd Cycle have until October 13, 2020 to present a declaration of interest, which must be accompanied by a bid guarantee. Below you will find the schedule:

Commencement of the 2nd Cycle of the Permanent Offer

September 11, 2020

Deadline to fill out the registration form, submit registration documents and pay the participation fee

September 21, 2020

Deadline for registered bidders to present new declarations of interest accompanied by bid guarantees

October 13, 2020

Disclosure of sectors offered in the 2nd Cycle of the Permanent Offer

November 03, 2020

Deadline for presentation of additional bid guarantees for sectors offered in the 2nd Cycle of the Permanent Offer

November 16, 2020

Public session for the presentation of offers

December 03, 2020

Deadline for winning bidders to submit qualification documents

By January 04, 2021

Award process and ratification of the bids

By March 26, 2021

Deadline to submit the following documents related to: (i) signing of the concession contracts; and (ii) qualification of the affiliate appointed for the signing of the contract, if applicable

By May 24, 2021

Deadline to pay the signing bonus and submit evidence of payment

By May 24, 2021

Signing of the concession contracts

By June 30, 2021


It should be noted that the Special Bidding Committee - CEL may modify or suspend the schedule of the cycles, giving the necessary publicity and preserving the deadlines and bidder's rights. In view of the emergency public health situation caused by COVID-19, the maximum term of 90 days to hold the public session for presentation of offers may be extended.

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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.