Senate votes on bill that relieves Petrobras role in the pre-salt

Photo: O Potiguar.

Photo: O Potiguar.

The Brazilian Senate approved legislation that relieves Petrobras of its obligation to be the sole operator and mandatory stakeholder in the pre-salt, as well as to hold a minimum 30-percent stake in all projects in the region.

Senators voted 40 to 26 in favor of the bill, which was introduced by opposition Senator Jose Serra (PSDB-SP) and now has to be approved by the Lower House. President Rousseff’s coalition is divided over the bill, with some legislators in her party saying it amounts to giving up sovereignty over fields that hold some of Brazil’s largest oil reserves.

Proponents say the bill would reduce the oil company’s financial burden and allow Petrobras to direct resources to more profitable operations.

Innovation Norway is responsible for promoting the Norwegian industry abroad. Our office in Rio de Janeiro manages Innovation House Rio, our business incubator office, and helps Norwegian companies in their efforts towards the Brazilian market.

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Posted in Brazil, Oil & Gas

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