São Paulo – The Brazilian National Agency for Petroleum, Natural Gas, and Biofuels (ANP) approved a public consultation and hearing this Thursday (2) to change the sector’s regulation and allow legal entities incorporated under foreign law to suggest oil and gas areas for inclusion in sector bids.
The resolution on public consultation is ANP No. 837/2021, which regulates the appointment of areas by oil and natural gas companies. Through nomination, companies can indicate exploration and production areas of interest to the ANP for study to include them in a future round or bid.
According to information disclosed by the agency, currently, only companies incorporated under Brazilian law can perform this procedure. The goal is to seek greater plurality in the participation of players in the oil and natural gas industry since it will encourage the suggestion of areas to be studied by the ANP.
According to the Brazilian agency, the review does not alter the need for companies to be incorporated under Brazilian law to enroll in bids or permanent offers in the sector. The public consultation will start after its publication in the Brazilian Official Federal Gazette, which will also indicate the hearing date on the subject.
Translated by Elúsio Brasileiro
