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Karim Vakil & Cruz Vizaco Advogados | Brazil | 21 Oct 2013

ANP issues guidelines for Chinese consortia

The National Agency of Petroleum, Natural Gas and Biofuels recently released its decision regarding Chinese companies that qualified for the first pre-salt bidding round, held in Rio de Janeiro. The tender documents for this bidding round set forth an obligation for all companies within the same economic group to present their bids together in the same consortium.
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Karim Vakil & Cruz Vizaco Advogados | Brazil | 19 Aug 2013

Agency publishes details of first production sharing bidding round

The National Agency of Petroleum, Natural Gas and Biofuels recently published a Portuguese draft of the preliminary tender package for the first production sharing bidding round. The preliminary tender package lists the rules and procedures that companies willing to participate in this bidding round must follow. Among other documents, the draft of the new production sharing agreement has been......
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Karim Vakil & Cruz Vizaco Advogados | Brazil | 24 Jun 2013

Exploration in pre-salt layer: historic development and dreams of independence

Both history and recent events demonstrate that investment in the Brazilian oil and gas industry has increased significantly since acknowledgement of the sector's existence in the country over 60 years ago, and is likely to continue to do so in future. If the country can overcome the many obstacles still present in the sector, the industry could create even more benefits to society in the......
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Karim Vakil & Cruz Vizaco Advogados | Brazil | 15 Apr 2013

Division of royalties causes friction between states

The Brazilian Constitution provides oil-producing states and municipalities with the right to receive a larger share of royalties as indemnification for allowing potentially hazardous activities to be carried out in their jurisdiction. However, following the 2007 discovery of huge oil and gas reservoirs in the pre-salt layer offshore Brazil, the existing system for the distribution of......
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Karim Vakil & Cruz Vizaco Advogados | Brazil | 18 Feb 2013

New mixed regime approach to oil and gas exploration and production

Following the discovery of the so-called 'pre-salt area' offshore southern Brazil, the government enacted a new law that established the production sharing agreement as the contract that would govern exploration and production activities in the area. However, licences to blocks outside this area are still granted through a concession agreement. Whether this mixed regime will be positive for......
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Karim Vakil & Cruz Vizaco Advogados | Brazil | 11 Feb 2013

Agency announces 11th oil and gas bidding round

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) recently published a draft of the preliminary tender package for the 11th oil and gas bidding round. The package lists the procedures that companies willing to participate in this bidding round must follow. Through a public consultation procedure, ANP hopes to gather additional information on the bidding round's rules and on the......
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