Pre-Salt Bid Rounds – Drafts of Tender Protocols and Production Sharing Contracts
On July 5, 2017, the National Agency of Petroleum, Natural Gas and Biofuels ("ANP"), published the tender protocol drafts for the 2nd and 3rd Bid Rounds for exploratory blocks under the production sharing regime, with the objective of establishing the procedures and rules for participating in the bids, as well as making available the production sharing contract drafts, the preliminary schedules, and the information regarding the offered areas.
The 2nd Pre-Salt Round will offer non-contracted unitization areas ("open acreage") adjacent to the prospects of Carcará (block BM-S-8) and Gato do Mato (block BM-S-54) and to the fields of Sapinhoá, in Santos Basin, and Tartaruga Verde (shared deposit of Tartaruga Mestiça), in Campos Basin.
As to the 3rd Pre-Salt Round, ANP will offer four areas: (i) Pau Brasil; (ii) Peroba e (iii) Alto de Cabo Frio - Oeste, in Santos Basin; and (iv) Alto de Cabo Frio - Central, in Santos and Campos Basins.
The schedules for both bids are similar and mention that the technical data packages are already available. For those who are interested in accessing, it is required to: (i) fill out an electronic registration form; (ii) present proof of payment of the participation fee, in accordance with the specific area; and (iii) submit the term of confidentiality provided in the tender protocol drafts, the corporate documentation, and power-of-attorney granted to the accredited representative before ANP. Below you will find the schedule.
|
Event |
Date |
|
Publication of tender protocol drafts and production sharing contract drafts |
07/05/2017 |
|
Commencement of period for filling application forms, delivery of qualification documentation and payment fee participation |
07/06/2017 |
|
Technical data package availability |
07/06/2017 |
|
Final deadline for additions into the tender protocol drafts and into the production sharing contract drafts, and public consultation closing |
07/21/2017 |
|
Public hearing (city of Rio de Janeiro) |
07/25/2017 |
|
Technical seminar |
08/17/2017 |
|
Publication of tender protocols and the templates of the productions sharing contracts |
08/23/2017 |
|
Environmental and fiscal-legal seminars |
08/24/2017 |
|
Final deadline for filling application forms, delivery of qualification documentation and payment of participation fee |
09/08/2017 |
|
Deadline to present the bid offer guarantees |
10/11/2017 |
|
Public offers presentation |
10/27/2017 |
|
Award and ratification of the bidding |
until 11/09/2017 |
|
Deadline to present the following documents: (i) execution of the production sharing contract; and (ii) qualification of the affiliated indicated for the execution of the contract, if be such is the case |
by 12/11/2017 |
|
Deadline for payment of the signature bonus, and demonstration of proof of payment |
by 12/11/2017 |
|
Production sharing contract execution |
until 12/29/2017 |
The tender protocol drafts are available at ANP's webpage (in Portuguese only). All documents will be under public consultation until July 21, 2017, so that contributions may be made, from both the industry and society in general.
We will continue to monitor the development of the Pre-salt Bid Rounds, and will keep you posted through our legal updates.
For more information in relation to this legal update, please contact EnergypartnersTC@mayerbrown.com.
Observations in this update about Brazilian law are by Tauil & Chequer Advogados and are not intended to provide legal advice. Any entity considering the possibility of a transaction must seek advice tailored to its particular circumstances.
