ANP RESOLUTION No. 18 OF MARCH 19, 2015
On March 19, 2015, the Brazilian Petroleum, Natural Gas and Biofuels Agency, (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis – "ANP") enacted Resolution No. 18/2015 ("Resolution"), introducing changes to the procedures adopted in bidding rounds for oil and gas E&P concession agreements.
The most significant change introduced by the Resolution was to delay the review of bidders´ qualification until after the bid winners have been announced. Therefore, from now on, bid rounds will consist of the following stages: i) publication of the preliminary bid documents; ii) public hearing; iii) publication of the final bid documents; iv) registration and payment of bidder´s participation fee; v) submission of bid guarantees; vi) presentation and review of bids; vii) review of winning bidders´ qualification; viii) approval of bid results; and ix) signing of the concession agreement.
The Resolution revokes ANP's Resolution No 27/2011, which previously governed this matter.
The official text of Resolution No. 18 and its attached regulation, in Portuguese, can be accessed by clicking here.