Regulatory News

The National Petroleum Agency (ANP) and the Brazilian Institute for the Environment (IBAMA) are studying the possibility of excluding the 11th round of bidding for exploration blocks located on the northeast coast. The information came from the General Director of the NPA, Magda Chambriard. According to her, some of these areas could be left out of the auction, scheduled for May 2013, due to licensing issues.

For the bid round, Congress must vote on the bill that addresses the new regulatory framework of the sub-salt layer, which includes a new division of royalties. The controversy has been going on for three years and could end up in court if lawmakers decide to modify rules for fields already tendered.

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