News – Jorge Pedroso
The 17th Round of exploratory clusters of the National Petroleum Agency (ANP) shows the interest of oil companies in the basins with pre-salt potential and indicates caution towards investment in increasingly clean matrices, following investor pressure.
“The search for increasingly cleaner matrices has reduced resources for financing oil and natural gas exploration activities. This may have been one of the reasons for the lack of proposals for the Pelotas basin, for example, due to the environmental risks involved and, especially, the high exploratory risks, given that this is a new exploratory frontier. However, the positive impacts that the purchased clusters will bring to the development of the country must be stressed, for, according to ANP, the estimate is that the purchased clusters generate investments of at least R$136,345,000.00 in the first years of the new Concession Agreements, this only for the implementation of the Minimum Exploratory Programs. Finally, it is worth mentioning that, with the exception of clusters located beyond 200 miles, the clusters that have not been auctioned off will integrate the Permanent Offer and companies will have new opportunities.” Our partner Jorge Pedroso, head of the Oil, Gas and Energy areas of our firm, commented.
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