Improvements in the energy policy, resolutions and contracts - Marcelo Castilho ANP/SDP - Apresentação do PowerPoint
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Improvements in the energy
policy, resolutions and contracts
Marcelo Castilho
Development and Production Superintendent
ANP/SDP
May, 2019
Brazilian Oil & Gas System Structure
Policymaking From 2016 up to today
PRESIDENT OF THE REPUBLIC
02 48
New Laws for New CNPE
National Energy Policy Council - CNPE Resolutions for
E&P
E&P
Regulation and Policy implementation
Nov/2016 – Law 13,365
Optional Operation
New Operators in PS
regime
Law 13,365/2016
Petrobras is no longer
required to be the sole
operator of Pre-Salt.
The change allows
Petrobras to decide to act
as an operator and hold a
minimum of 30% (thirty
percent) in the consortia
formed to operate blocks in
the PS regime.
Dec/2017 – Law 13,586
Repetro Extension – Fiscal Regime
Extended the special tax regime for exploration,
development and production of oil and natural gas
Mar/2016 – CNPE Resolution 02
Contract Extension Offshore Onshore
i. Marlim; i. Fazenda Alegre;
ii. Marlim Leste; ii. Araçás;
iii. Marlim Sul; iii. Canto do Amaro.
CNPE Resolution 2/2016
9 extensions approved iv. Frade;
Established the guidelines v. Voador; ~ US$ 945 MM
for the concession contracts vi. Ubarana.
extensions
~ US$ 18 Bi
and
The Concessionaire may
apply for extension upon
submission of a request to Offshore
ANP, together with a i. 12 concessões
reviewed Development Plan 56 currently in analysis Onshore
i. 44 concessões
Apr/2017 and Jun/2018 – CNPE Resolutions 10
Predictability for the Oil Market
Bidding Planning
Brazil
2017 14ª Round
CNPE Resolutions 2018
10/2017 and 10/2018
Brazil
Established the guidelines
for multi-year planning of 2019 16ª Round 6
E&P Bidding Rounds up to
2021
Brazil 7
2020 17ª Round
Brazil 8
2021 18ª Round
Apr/2017 – CNPE Resolutions 04 and 08
Exploratory Phase Out/2017 – ANP Ordinance 708
Extension
Several concessionaires operating in Brazil, mainly in blocks
CNPE Resolutions 04 and
related to the 11th and 12th Bidding Rounds, due to difficulties
08 related to environmental licensing and deficient logistics in some
of the offered Basins, have requested ANP to extend of the
It allows the extension of
the Exploration Phase,
exploratory phase to carry out the minimum exploratory
considering not only the program.
contractual clauses, but
also the greater objective of
national interest and the
The ANP Ordinance allows the extension of the Exploration
preservation of investments Phase for a period of two (2) years
in the Country.
40 Extensions Approved
Apr/2017 – CNPE Resolution 07
New LC Policy Onshore Blocks Offshore Blocks
Exploration Phase = 50% Exploration Phase = 18%
CNPE Resolution 07
Establishes new guidelines Development Phase = 50% Development Phase:
for definition of Local
Content for the Exploration
and Production Phases Well Construction = 25%;
Collection & Drainage System= 40%;
Stationary Production Unit= 25%;
Jun/2017 – CNPE Resolution 17
Royalties Reduction Set/2018 – ANP Ordinance 749
Royalties Reduction up to 5% on Incremental
Production in Mature Fields. What is Mature??
CNPE Resolution 17/2017
Royalties reduction, up to 5% (five 25 years of Production OR Production Cumulative ≥ 70%
Number of Eligible Fields per Basin
of
percent), on incremental production estimated recovery considering 1P reserves
Camamu
resulted by new investment plan to
Tucano Sul
be implemented, in order to Santos 53% of Brazilian Fields
promote life extension and Ceará
maximize field’s recovery factor. Number of Eligible Solimões
Alagoas
241 54% of Campos Basin Fields
Fields: Sergipe
Campos
Espírito Santo
Potiguar
Recôncavo
0 20 40 60 80
Set/2018 – ANP Ordinance 749
Royalties Reduction up to 5% on Incremental Production in
Mature Fields.
Promote Field Life
40 cases under evaluation Extension
Maximize Recovery
Factor
7,5 or 5% Royalties
Increase project Profitability
10% Royalties
More Jobs and Income
Complementary
Historical
Project
Increase Mature Fields
attractivenessMar/2018 – CNPE Resolutions 01
New LC Policy Mar/2018 – ANP Ordinance 726
This Resolution establishes the criteria, requirements and
procedures applicable to the reduction or even the exemption of
CNPE Resolution 01
the Local Content obligation, as well as the general rules of
It defines guidelines for the compromised percentage adjustments and surplus transfers.
ANP to evaluate the
possibility of adopting Local
Content requirements
It gives operators the possibility of making a contractual
distinct from those amendment.
established in the signed
Contracts
233 Contractual Amendments SignedBidding rounds promoted
Results
201815th Bidding Round – Campos and Santos Basins
Consortia and
signature
bonuses by block15th Bidding Round – Record Results
Signature Bonuses for Concession Rounds (MM R$)
The largest signature bonuses in concession bidding
rounds ever (R$ 8 billion) and the highest signature
bonus by block in the history (R$ 2.8 billion)
22 blocks were acquired and 12 winners from 11 countries
A variety of operators and a geographic diversity4th Pre-salt Results
Pre-Salt Play
14 3
Blocks
3 Blocks Bbbl Awarded
Awarded
Estimated unrisked oil in
place volume
Petrobras will operate
Dois Irmãos, Três Marias and
Uirapuru with 30%.
Potential for large oil
discoveries5th Pre-salt Bidding Round
SW Tartaruga
Verde Pre-Salt Play
16.5
4
Blocks
4 Blocks
Bbbl Awarded
Awarded
Estimated
Titã unrisked oil in
place volume
(P50)
Saturno Petrobras will operate
SW Tartaruga Verde
Pau Potential for large oil
Brasil discoveries4th and 5th Pre-Salt Brazil – Excellent Results
What´s up for 2019/2020
2019
2020What´s up for
2019/2020?
New Areas
(publication)
2019 Jul/2019 2ndS/2019
May/2019 2ndS/2019 2ndS/2019 2020
New ANP Ordinance:
ANP Ordinance Update: Petrobras Divestment Plan
Farm-in and Farm-out (Topázio and Ártico Projects):
Process and Reserve Descomissioning first farm-ins/farm-outs
(public consultation)
Based Lending Approvals
(publication)What´s up for
2019/2020?
ANP Ordinance Update:
Development Plan
(public consultation)
2020 1ndS/2020
1ndS/2020 1ndS/2020 2021
Petrobras Divestment Plan ANP Ordinance Update:
(Topázio and Ártico Projects):
Modalities of abandonment
first farm-ins/farm-outs
guarantees
Approvals (public consultation)16th Bidding Round
5 36 111
Basins Blocks Bbbl
Camamu-Almada
Camamu, Jacuípe, 12 blocks in New
CAMPOS Pernambuco, Estimated unrisked
SANTOS Frontier
Campos and Santos. 24 blocks in High oil in place volume
Potential Basin (P50)
Minimum Bonuses can vary from:
R$ 1,5 MM up to 3,3 MM (NF)
R$ 8,9 MM up to 1,3 Bi (HP)16th Bidding Round
1-Publication of the
Protocol Tender and
Contract;
2-Environmental and
2019 2019 legal Seminar 2019
(03.25.19) (July) Auction
(Up to 09.26.19)
Draft of Protocal Tender 2019 2019
(Available)
(Up to 08.05.2019) Deadline for
submission of offer (Oct/2019)
Technical Seminar guarantees
2019
(Up to 08.20.2019)
Deadline for completing the registration form
*Indicative Schedule
and payment the participation fee6th Pre-salt Bidding Round
Pre-Salt Play
5 42
Blocks Bbbl
Estimated unrisked oil in
place volume
Potential for a large oil discovery
Bonuses can vary from:
R$ 500 MM up to 5.05 Bi
Minimum Profit Oil vary from:
22,87% up to 36,98%6th Pre-salt Bidding Round
September: Environmental and
legal Seminar
Publication of the
Protocol Tender and
2019 2019 Contract; 2019
(04.15.19) (August) Auction
(Up to 10.23.19)
Draft of Protocal Tender 2019 2019
(Available)
(Up to 09.04.2019) Deadline for
submission of offer (Nov/2019)
Technical Seminar guarantees
2019
(Up to 09.19.2019)
Deadline for completing the registration form
*Indicative Schedule
and payment the participation feePotential investments and forecast
production
R$845
Brazilian Oil Production Forecast (bpd)
6.000.000 39
5.000.000
New Billion of potential
platforms
investments in development
4.000.000
3.000.000
2.000.000 The pre-salt region has the potential to contribute
1.000.000
with the largest non-OPEC production growth in
the decade to come. According to IEA, Brazil will
0
be one of the four countries responsible for
covering the world´s demand growth up to 2020THANK YOU!
More information:
brazilrounds.anp.gov.br
anp.gov.br
mcastilho@anp.gov.brYou can also read
