Temer Sanctions Law That Exempts Petrobras from Being Sole Operator of the Pre-Salt

11/30/2016 - 12h17

Under the promise of foreign oil companies to increase investments in the country, President Michel Temer sanctioned on Tuesday (29) the law that exempts Petrobras from the obligation to be the sole operator of the pre-salt, which was halting the realization of new auctions of oil fields.

During the ceremony, at the Planalto Palace, Temer said that the measure favors the country, because it will allow more investments to be made in the oil sector and thus generate more employment.

The law changes the rule created by Dilma Rousseff's government, which determined that Petrobras had to be the sole operator of pre-salt and partner of 30% of all the consortiums that explored it in the country.

The ceremony is part of the offensive in the economic area to try to halt the crisis caused by the departure of former minister Geddel Vieira Lima.

As part of this strategy, the government will also launch the privatization announcements for the airports of Salvador (BA), Fortaleza (CE), Florianópolis (SC) and Porto Alegre (RS).

At the ceremony, oil companies attending the event, specially the foreigners companies with presence in the country, praised the measure, presented at the Congress by the senator and now foreign minister, José Serra.

They promised the government to increase investment in the country by adopting the measure, which they called for.

Translated by MARINA DELLA VALLE

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