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The Brazilian Petroleum, Gas and Biofuels Institute (IBP) and the oil & gas industry deemed relevant the effort of the National Congress to approve the law 13365, which allows multiple operators in the pre-salt, sanctioned on November 29 by the President of the Republic, Michel Temer.

The end of the sole operator obligation will pave the way for new and robust investments, generate jobs and help to make Brazil more competitive on the global scenario.

“The change will benefit not only the oil industry, but the country as a whole, with gains in technology and innovation, thus generating more jobs and more taxes, with the possibility of accelerating the development of the pre-salt fields. We are optimistic, that’s an important decision for the country to recover the lost competitiveness”, said Camargo.

The IBP estimates that, in discovered areas that go beyond the limits of blocks granted alone, investments may reach USD 120 bi – about BRL 405 bi, at the current exchange rate. Such amount represents nearly four times the country’s budget projected for health care for 2017, of BRL 110 bi.

The industry also expects other relevant actions, whose support the government has already signaled: the extension of the Repetro customs regime for 20 years and the flexibility of local content rules.