Change in Rule to Exploit Petroleum Advances in Lower House

07/08/2016 - 09h24

The bill on the end of the mandatory participation of Petrobras in the oil exploitation in the pre-salt area was approved on Thursday, July 7, by the special commission of the Lower House created to analyze the case.

The commission approved the report made by the proposal's rapporteur, federal legislator José Carlos Aleluia (DEM-BA), with 22 votes in favor and 5 against. Aleluia analyzed issues such as the project's constitutionality and financial adequacy.

	Dado Galdieri - 11.jul.2013/Bloomberg
	Today Petrobras is required to have a minimum participation of 30% in the consortiums

The bill (PL 4567/2016)) has already been approved by the Senate and began proceedings in an attempt by then-Senator and current Minister José Serra (Foreign Affairs). It will be voted in the Lower House now, where proceedings began in February 2016.

The bill changes Act 12.351, of December 22, 2010, to make Petrobras have the choice, and not the obligation, to act as an operator in the pre-salt area. Today Petrobras is required to have a minimum participation of 30% in the consortiums made to exploit the auctioned blocks.

Interim President Michel Temer set the project as one of priorities in the economic area to attract more foreign investment to the country.

In his report, Aleluia cited some mistaken interpretations regarding the project. He said that controlling the speed to use the petroleum resources is and will continue entirely in charge of the federal government and that the existence of an exclusive operator does not affect the government's revenues.

Aleluia also said that it is "unreasonable" to say that the project aims to give the country's petroleum reserves to multinational companies.

Translated by THOMAS MUELLO

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