Let The Onerous Assignment Come!

The Petroleum Agency (ANP) recently released new information regarding the auction of surplus volumes derived from the "Onerous Assignment Regime," expected to be held by the end of the year. The Onerous Assignment Regime, which was created by Law No. 12,276/2010, authorized the Federal Government to onerously assign to PETROBRAS, without a bidding procedure, the performance of hydrocarbon exploration and production activities in open acreage located in the pre-salt, up to a limit of five billion (5,000,000,000) boe.

On April 17, 2019, the National Council for Energy Policy (CNPE) published the Resolution No. 6/2019, authorizing the ANP to hold the "Onerous Assignment Surplus Round" ("Bidding Round"), since technical assessments indicate volumes over 5 five billion (5,000,000,000) boe ("Surplus Production"). In this Round, the development areas of Atapu, Buzios, Itapu, and Sepia, all located in the Santos Basin, will be offered to the market.