Exploration and production beyond 200 nautical miles

Resolution No. 23 was signed by the Presidency of the Republic on Tuesday (19). The document creates a working group (WG) that will deal with the exploration and production of oil and natural gas on the extension of the Brazilian continental shelf, as announced by Mines and Energy Minister Bento Albuquerque during the 16th bidding round.

Coordinated by the Ministry of Mines and Energy (MME), the WG will evaluate international rules for exploration and production on the continental shelf beyond 200 nautical miles (about 370 kilometers from the coast), where today Brazil has exclusivity for economic use. Currently, the main focus is on the near-pre-salt range, where, if findings are confirmed, there is an expectation of increasing the volume of Brazil’s oil and gas reserves by about 50%, currently estimated at 15.9 billion barrels.

The WG will propose any necessary measures for regulation and implementation, maintaining the attractiveness of the blocks offered there. There will also be immediate focus on the modeling of the bidding process and contract for the 17th Bidding Round, when six Santos Basin blocks will be offered, partially or totally, beyond 200 nautical miles.

The group will be composed of members of the Civil House, the Brazilian Navy, the Ministry of Defense, the Ministry of Foreign Affairs, the Ministry of Economy and ANP.

Source: ANP