Client Alert: Brazil Announces New Bid Rounds for 2018

On November 24, 2017, the Brazilian Official Gazette of the National Energy Policy Council (“CNPE”) published Resolution Nos. 17, 21, and 22.  Resolution No. 22 authorized the National Agency of Petroleum, Natural Gas, and Biofuels (“ANP”) to hold the 15th bid round for the exploration and production of oil and natural gas under the concession regime.  The public bid session is scheduled to take place on March 29, 2018.  Resolution No. 21 authorized the fourth Pre-Salt bid round under the production sharing regime.  The public bid session is tentatively scheduled for June 7, 2018.  The ANP plans to release the first draft of the Pre-Tender Protocol for the production sharing regime in January 2018. Lastly, Resolution No. 17 authorizes the ANP to offer certain fields and blocks on a permanent basis. Each resolution is highlighted in this Client Alert.