Federal Audit Court Approves Pré-Sal Mega Auction

Decision eases the breakdown of public accounts, according to economic team


The TCU (Federal Audit Court) approved the pre-salt auction rules scheduled for November. The economic team celebrated the decision despite the caveats of the control body.

Waldery Rodrigues, the special secretary of Finance of the Ministry of Economy, thinks the decision is the fulfillment of a fundamental step for next month's auction, which will help to soften the rupture of public accounts. "It's a historic day for the country," he told the report.

The economic team celebrated the decision despite the caveats of the control body. ( Foto: Ricardo Borges/Folhapress) - Folhapress

The government and the control body collaborated to produce the result. "The Executive worked in coordination with the various areas involved in a discussion that has evolved since the [government's time of transition]," he said.

He points out, however, that it will still be necessary to go through other approval phases until the auction. TCU itself has another process that analyzes the surplus auction. "This is an important step, but there are others, for a process that will have a huge impact on employment and income," he said.

Even before taking office, Minister Paulo Guedes (Economy) placed the difficult assignment as a priority for the economic team. Its objective was to "unclog" the oil and gas market and reduce Petrobras' participation by attracting private companies while raising funds for public coffers.

The Executive intends to receive the money in December, but the economic team sees a risk that the schedule will be to 2020.

In theory, TCU decisions are not necessary conditions for the auction. But the approval of the control body gives more legal certainty to the dispute and therefore increases the attractiveness of the areas.

Translated by Kiratiana Freelon

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