Overview

Olavo Bentes David is a Counsel of the Corporate and M&A practice of Tauil & Chequer Advogados associated with Mayer and Brown, in the Rio de Janeiro office. David began his professional career as a Geologist in 1986 at Petróleo Brasileiro S.A. (Petrobras), where he worked for more than twenty years as a Geophysicist of Oil Prospecting in the areas of data acquisition, seismic processing and new ventures. Graduated in Law, he became, since 2006, a member of the Federal Attorney General’s Office in Brazil (AGU). He was head of litigation coordination in the Criciúma/SC section and regional Deputy Federal Attorney of Brazilian social security at the 2nd region of the country. Working at the National Petroleum Agency (ANP), he was the Federal Deputy Attorney until the beginning of 2014, when he became the first General Legal Advisor of the starting up public company Pré-Sal Petróleo S.A (PPSA). At PPSA, where he worked during eight years, he concentrated on the preparation and negotiation of Brazilian production sharing agreements (PSA), the unitization agreements with PPSA as the Federal Union representative and the contracts for the commercialization of oil and natural gas owned by the Brazilian State. In April 2022 he returned to AGU, retiring from public service in September and being incorporated into the team of lawyers of the TCMB in the same month as a senior Counsel.

Spoken Languages

  • English
  • Portuguese

Experience

Petrobras

  • Seismic Crew Chief.
    • Participation in the discussions on the first unitization in Brazil (Lorena/Pardal fields – Potiguar Basin).
    • Technical and business participation (consultative) in Petrobras first joint venture experience in Brazil: Pescada-Arabaina (Potiguar Basin).
  • ANP
    • Participation in the , drafting and legal opinions involving important matters related to the concession regime and the implementation of the production sharing regime in Brazil:
    • Definition of regulatory competence on oil production from the shale.
    • Regulation of unitization in Brazil (ANP Resolution 25/2013).
    • Separation of related institutes of unitization, annexation, facilities sharing, unification of fields and co-participation.
    • Reviewing of the concession model contracts from the 11th bidding round ahead.
    • Regulation of hydraulic fracking activity focused at the exploration and production of nonconventional natural gas.
    • Expansion of the possibilities of the extension of the exploration phase of the concession contracts.
    • Regulation of the access to the data and information collection of Brazilian sedimentary basis.
    • Possibility of the extension of the production phase of the concession contracts, including blocks located in the pre-salt polygon.
    • Criteria for the unification of oil and gas fields.
    • Participation in the working group that prepared the draft of the first Brazilian PSA (Libra).
    • Regulatory review on appraisal and development plans
  • PPSA
    • Participation in discussions, drafting and preparation of legal opinions involving important issues related to the production sharing regime, the unitizations involving open areas and the commercialization of the oil and gas owned by the Federal Union.
    • Participation in the working group that drafted the first Commercialization Policy of the oil and Natural Gas owned by the Federal Union.
    • Participation in the working group which drew up the first draft of the law that extended the options for the commercialization of the oil and gas owned by the Federal Union by PPSA.
    • Participation in the discussions with Petrobras and other international oil companies to develop a model for the hiring of marketing agents for the commercialization of the oil and gas owned by the Federal Union.
    • Consultancy and legal advice for the first four spot sales of the Federal Union oil.
    • Consultancy and legal advice for the first three oil auctions of Federal Union oil.
    • Consultancy and legal advice for the first three gas sale agreements of the Federal Union gas.
    • Participation in the working group that drafted the National Energetic Policy Counsel (CNPE) resolution that specifically regulated the unitization involving open areas in Brazil.
    • Participation in the negotiation and signing of nineteen Unit Agreements (UAs) in which PPSA is the representative of the Federal Union, either in open areas or in areas under PSAs.
    • Elaboration of a legal model for the positioning of PPSA in the UAs involving open areas and areas under PSAs (consenting intervening party model).
    • Participation (advisory) in all operational committees of the consortia for the exploration and production of oil and gas under PSAs.
    • Participation in the discussion to implement the Production Sharing Agreements Management System (SGPP) at PPSA.
    • Elaboration of the draft of the internal regulation of the operational committees of the PSA’s consortia contracted in Brazil.
    • Participation in the working group that elaborated the model for the transference of rights surplus contracting under production sharing regime (ToR Surplus) for the first and second bid rounds (Búzios, Itapu, Atapu and Sépia).
    • Preparation of the detailed documentation aimed at the regulation of the co-participation institute, especially for the second Tor Surplus bid round.
    • Participation in the negotiations with Petrobras for setting parameters and calculation of the compensation due to the later by the new contractors to explore and produce oil the TOR Surplus.
    • Development of a governance model for the co-participated and unitized reservoirs in Brazilian pre-salt.
    • Elaboration of a model for the payment of the compensation, calculation of gross up and its recovery as cost oil.
    • Participation in the interministerial group of disclosure and clarification about the exploration and production of the Tor Surplus.
    • Participation in government discussions about the optimization or the production of the pre-salt natural gas.
    • Legal advice for the preparation of the service contract between PPSA and the Ministry of Mines and Energy (MME) to provide the payment for the execution of the PPSA legal competences.

Education

ANP/UFRN Covenant PRH 36, Specialization in Oil and Gas Law

Federal University of Rio Grande do Norte, Law Course

Universidade Corporativa da Petrobras, Postgraduated in Geophysics of Oil Exploration

Universidade de Brasília - UnB, Geosciences course. Graduated in Geology.

Admissions

  • Brazil

Activities

  • Administrative Career. Banco Regional de Brasília S.A. – January 1982 to November 1982. Hired upon approval in public tender.
  • Administrative Career. Banco do Brasil S.A. – November 1982 to August 1986. Hired upon approval in public tender.
  • Geophysicist of Oil Prospection. Petróleo Brasileiro S.A. – September 1986 to November 1982. Hired upon approval in public tender.
  • Federal Attorney of Federal Attorney General’s Office in Brazil. October 2006 to September 2022. Hired upon approval in public tender.
  • General Legal Advisor. Pré-Sal Petróleo S.A. – February 2014 to April 2022. Admission upon assignment from AGU.