Rio de Janeiro – The company Pré-Sal Petróleo (PPSA), with ties to the Ministry of Mines and Energy, opened on Friday (18) a public consultation on the international tender to hire an agent to sell the oil output from the Tupi oil field. The consultation will be open for 30 days.
According to PPSA, this is a new business model as, so far, the country’s oil was sold by the country on the spot (between companies, usually with cash payment) or auctions.
In the new business model, the oil from Tupi will be sold via an agent to be chosen through an international tender. The estimate is that, in five years, around 3.5 million barrels of oil are sold, fetching approximately USD140.5 million.
At the Santos Basin, São Paulo, Tupi is the main mail oil and gas producer of the pre-salt reservoirs. It’s operated by Petrobras (65%) and its partners Shell (25%) and Petrogal (10%). PPSA explained that, as production progressed to a non-hired area last April, a Production Individualization Agreement (AIP) was formalized, giving the government 0.0551% of the shared deposit.
New model
Contractually, Tupi’s seller agent will be responsible for the entire selling process during five years, including finding the buyer, loading the floating production storage and offloading (FPSO), transporting it until the transshipment point or delivering it via cabotage, long-distance transport and insurance purposes, independent inspection and hedge operation of price oil.
Seller agents can participate individually or in a consortium. This can be composed by foreign companies as long as they are led by a national oil producer and exporter that operates in pre-salt. The consortium is limited to three participants.
Translated by Guilherme Miranda
