Opens offshore oilfields to foreign investment
29 Nov 2016
On 29 November 2016, Brazil adopted changes to the structure of it’s pre-salt oil industry, opening the door to increased foreign investment. The old law required the national oil company, Petrobras, to be the sole operator of all pre-salt fields, and to hold a minimum of 30% equity in each of those blocks. Under the new arrangements, the National Council for Energy Politics (CNPE) will first offer the blocks under the product sharing regime to Petrobras, which may accept or reject the offer within thirty days before they are tendered to other operators.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Primary (Mining and quarrying)
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Sources:
