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On January 19, 2017, the National Agency of Petroleum, Natural Gas and Biofuels – ANP released the Tender Protocol and the Draft of Concession Contract for the 4th Bidding Round for Marginal Accumulations (AM4), which had been previously authorized by the National Council for Energy Policy – CNPE (Resolution No. 04 of September 5, 2016).

For this Round, ANP selected nine (9) areas with marginal accumulations, in which the public session for submission of bids is scheduled to take place on May 11, 2017, in accordance to the Tender Protocol.

Mature basins were selected for this Round, with the purpose of providing opportunities to small and medium-sized companies, in addition to maintaining activities in the relevant regions. The 9 areas to be offered in the Bidding Round are: (i) Garça Branca and Rio Mariricu, located on the Espírito Santo Basin; (ii) Iraúna, Noroeste do Morro Rosado and Urutau, located on the Potiguar Basin; and (iii) Araçás Leste, Itaparica, Jacumirim and Vale do Quiricó, located on the Recôncavo Basin.

The new schedule published by ANP for this Bidding Round foresees the execution of the respective Concession Contracts before August 31, 2017. As soon as further information is released, we will make it available through our Legal Updates.

The Draft of Concession Contract and the Tender Protocol of the 4th Bidding Round for Marginal Accumulations can be found at the Brazil Rounds Official webpage.