In accordance with Law no. 12, 351, dated 10/22/2010, and with Decree 9,041, of 05/02/2017, the National Council of Energy Policy (CNPE) published on 02/01/2018 in the Official Gazette of the Union the CNPE Resolution 25/2017, which establishes the mandatory participation of Petróleo Brasileiro SA (Petrobras) as operator in the production-sharing contracts in the following areas offered in the 4th Round of Production Sharing Bid:
i) Três Marias;
ii) Uirapuru; and
iii) Dois irmãos.
Pursuant to article 4 of Decree No. 9,041 / 2017, in the event of exercising its preemptive right, after the conclusion of the bidding process, Petrobras:
I -Shall compose the consortium with the winning bidder, if the percentage of the surplus in oil of the Union offered in the auction for the area bid is equal to the minimum percentage established in the bid; or
II -May compose consortium with the winning bidde,r if the percentage of the Union's oil surplus offered in the bidding public session for the area exceeds the minimum percentage established in the bid notice, and must express its decision during the bidding round.
Pursuant to the Tender Protocol for the 4th Production Sharing Bidding Round, CEL will ask Petrobras to express its decision in consortium with the winning bidder.
Petrobras representatives will be sent by a member of CEL and ANP servers to a room, located near the main auditorium, where they will meet to make the decision.
A time of five(5) minutes will be granted for the trip to and from the main auditorium, and thirty (30) minutes for the decision making. Petrobras' decision will be formalized through a form of expression of interest (available in portuguese), completed and signed by an accredited representative and delivered to CEL.
If Petrobras decides not to compose a consortium with the winning bidder, CEL will disclose the new participation percentages of the bidders and the new operator, as contained in the recomposition envelope form previously submitted.
Such provision shall not be applied if the percentage of the oil surplus for the Union offered is equal to the minimum percentage established in the notice or if Petrobras is the winning bidder, by itself or as part of a consortium.