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XVIII CONGRESO DEL IIDM and MLA FALL MEETING Puerto Rico - 2013

XVIII CONGRESO DEL IIDM and MLA FALL MEETING Puerto Rico - 2013. ALESSANDER LOPES PINTO. Regulation of Oil & Gas Offshore Exploration and Production Activities. Oil & Gas Offshore Exploration and Production.

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XVIII CONGRESO DEL IIDM and MLA FALL MEETING Puerto Rico - 2013

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  1. XVIII CONGRESO DEL IIDMandMLA FALL MEETINGPuerto Rico - 2013 ALESSANDER LOPES PINTO

  2. RegulationofOil & Gas Offshore ExplorationandProductionActivities

  3. Oil & Gas Offshore ExplorationandProduction • Explorationandproductionofoilandgasoffshore are not a recentactivity. • The firstactivitiestookplace in thebeginning of lastcenturybyadaptingequipmentandthecnicsusedononshoreexploration. • Due to technologicalandoperationalbreakthroughs, resources inaccessible in thepastbecameviableandturnedintoeconomicallyrecoverable reserves.

  4. BRAZILIAN EXPERIENCE

  5. Oil & Gas Offshore ExplorationandProduction Brazil is currently a world leadingreference in oil & gasexplorationandproduction in bothdeepand ultra deepwater. Approximately 90% ofBrazil’soil output comes from offshore fields. More than 130 oilrigs off theBraziliancoastline: Around 40 fixedrigsand 90 floating ones.

  6. Brazil’sOil Output Evolution – 2002/2011

  7. The ExpansionofOil & Gas Offshore ExplorationandProduction in Brazil

  8. BRAZILIAN PRE-SALT LAYER Extensionof 800 km. Upto300km farfromshoreline. Depths between 1,000 and 2,000 mt to the seabed and between 4,000 and 6,000 mt from the seabed down. Oil reserves may be up to 8,000 mt below the surface of the sea.

  9. Offshore MaritimeSupport MaritimeSupportNavigation: logisticsupport to vesselsandfacilities/rigsworking in research andexploitationofmineralsandhydrocarbons.

  10. Offshore MaritimeSupport MaritimeSupportNavigation figures in Brazil: • 135 Brazilian Navigation Companies (EBN) authorizedby the NationalAgency for WaterwayTransportation – ANTAQ; • A fleetexceeding 500 vessels; • Over US$ 2 billionspenton charters in 2012. (Source: ANTAQ)

  11. OSRV VESSELOil Spill Recovery Vessels PlataformSupportVesselspecialized in oilspillrecovery, providedwithspecificationsthatallow it to work in the oilspill, in anatmospherewhereoilevaporationproduces natural gas. Providedwithshieldedelectrical systems to avoidsparkles, thesevesselshaveequipment to aspiratespilledoilandstore it in tanksonboard.

  12. Expansionand Forecast oftheNumberofMaritimeSupportVessels in Brazil

  13. RegulatoryModel 1988 Brazilian Federal Constitution: * To promotefree enterprise; * Reserved for the Stateownershipofcertaineconomicactivitiesconsidered to beofpublicinterest; * Regulatory Agencies werecreatedwith a firmpurpose of controllingprivate enterprise in the execution of publicrelatedservices;

  14. RegulatoryModel for OilExplorationandProduction Flexibilizationofstatemonopoly – ConstitutionalAmendment #9, of 1995. SuchAmendmentallowedprivate capital in oilexplorationandproduction in Brazilianterritorythrough the Concession Regime. Law # 9.478/1997 – ‘Petroleum Law’ Petrobras wasnotincluded in theNationalPrivatizationProgram.

  15. RegulatoryModel for OilExplorationandProduction The NationalAgencyofOil, Natural GasandBiofuels - ANP CompetenceandAttributions: • Implementnational policies for the sector; • Enforcegoodpractices for conservationandrational use ofoil, natural gas, theirbyproductsandbiofuels; • Considerenvironmentalaspectsanddemandcompliancewithrequirementsregardingenvironmentallicensing; • Dealwith federal andstateenvironmentalentities, as well as academicandresearchinstitutions.

  16. NewRegulatoryModelSharedProduction Regime – Pre-Salt Withpre-saltdiscovery a newregulatorymodelwasdeveloped. A newShared Regime ofproduction for exploitationofthepre-saltfieldswascreated, leading to a newregulatorymodel.

  17. SharedProduction Regime – Pre-Salt October, 21st/2013 – Firstbidding round for the Pre-Saltunder the Shared Regime. Petrobras beinglegallygranted a minimumparticipationshare of 30% in the consortiuns. ResultofthePre-SaltBid (Libra Basis): • Winner: Consortium among Petrobras (40%), Total (20%), Shell (20%), CNOOC (10%) e CNPC (10%); • Signing Bonus = BR$ 15 billion; • ExplorationTerm: 35 years; • Price to bepaidbythewinner: 41,65% oftheoilproductionprofit.

  18. RegulatoryModel for the Waterway SectorOffshore MaritimeSupport Navigation NationalAgency for WaterwayTransportation– ANTAQ (2001). • Specialautarchicregime. • IntegratingtheIndirectPublicAdministration. • Administrativeindependenceandfunctionaland financial autonomy. In Brazil, in order for a navigationcompany to operate, a publicauthorizationshallbepreviouslygrantedby ANTAQ.

  19. RegulatoryModelfor the WaterwaySectorOffshore MaritimeSupport Navigation It is ANTAQ’scompetence: • Regulate, Supervise andInspectservices of waterwaytransportationandexploitation of the waterwayinfrastructure; • Inspectthe performance anddevelopmentofservicesbynavigationcompaniesoperating in Brazil; • AuthorizecharteringofforeignvesselsbyBraziliannavigationcompanies; • Applypenalties in cases of non-compliancewith the legislation, breach of contractorcommercialmalpracticebynavigationcompanies.

  20. Gracias!Obrigado!ThankYou!Alessander Lopes Pintoalessander@francalopespinto.com.brwww.francalopespinto.com.br

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