On June 2, 2021, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) published the draft tender protocol (“Draft Tender Protocol”) of the 2nd Bidding Round under the Production Sharing regime for the Surplus Volume contracted under the Transfer of Rights (“2nd Bidding Round”). The Draft Tender Protocol established the procedures and rules for participation in the bid and provided information on the draft production sharing agreements, the preliminary schedule, and information on the offered areas.
The 2nd Bidding Round will offer the development areas of the Atapu and Sépia blocks, with 228,89 km2 and Sépia, with 157.25 km2 located in the Santos Basin. Petrobras exercised its preferential right to be the Operator, having at least 30% participating interest interest in both offered areas..
The Draft Tender Protocol established the following amount for Signature Bonuses:
The technical data package will be available to bidders who (i) submit the electronic application form to the ANP, (ii) submit proof of payment of the participation fee and (iii) present the confidentiality terms of the technical data package and prove the powers of its signatory.
An additional technical data package will also be made available and consist of a collection of technical data selected by Petrobras. To access the additional technical data package, bidders must follow the procedures described above and present the other documents related to expression of interest and qualifications.
The 2nd Bidding Round will follow the schedule below:
The Draft Tender Protocol and the draft of the production sharing agreement may be accessed on the ANP/Rodadas website (in Portuguese only). All documents are available for public consultation until June 28, 2021, and inputs may be made by both the industry and the general public.