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ARTICLE · 09 SEPTEMBER 2024

Permanent Offer – Petrobras Exercises Its Preferential Right In Jaspe

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On August 28, 2024, Brazil's National Energy Policy Council ("CNPE") published CNPE Resolution No. 6/2024, announcing the exercise of Petróleo Brasileiro S.A.'s ("Petrobras")...

BrazilEnergy and Natural Resources
Bruno Triani Belchior
Bruno Triani Belchior
Bárbara Eiroa Leite
Bárbara Eiroa Leite
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https://www.mondaq.com/home/redirect/authorOn August 28, 2024, Brazil's National Energy Policy Council ("CNPE") published CNPE Resolution No. 6/2024, announcing the exercise of Petróleo Brasileiro S.A.'s ("Petrobras") preferential right to be the operator in the Jaspe block with a minimum 30% participating interest.

The Jaspe block will be offered under the Permanent Offer system under a production sharing regime with seven other pre-salt blocks, as authorized by CNPE Resolution No. 11/2023 (detailed in our previous Legal Update).

Pursuant to Decree No. 9.041/2017, Petrobras will have the "pull out option" to refuse to enter into a production sharing agreement if the federal government's profit oil percentage offered by another company or consortium—declared as the winner—is higher than the minimum percentage established in the tender protocol.

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