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News

Big Changes in Brazil Ahead will Benefit all Country

30/11/2016

An Act That Will Benefit All Brazil

Pres. Temer signs a law exonerating Petrobras as sole pre-salt operator; the measure was eagerly awaited by the world O&G industry and should stimulate foreign investments
President Michel Temer signed today (November 29) in Brasília, a Law loosening the requirement that Petrobras be the sole operator of all pre-salt exploration blocks under the production sharing regime. The new legislation has been eagerly expected by both oil companies and suppliers of the oil and gas industry, who believe the changed rules will encourage new investments in the sector.
I feel like right now we are making a decision for the benefit of Brazil. To the extent that we allow the inclusion of other sectors in the pre-salt exploration activities, we are also opening additional space for job growth in the country,said Temer, during a ceremony held at the Presidential Palace.

In the audience were representatives of the Brazilian Petroleum Institute (IBP) , in addition to politicians, and the president of Petrobras, Pedro Parente, who was praised by Brazil’s Chief Executive.
"A few short months ago, Petrobras was a maladjusted company and today it is a well adjusted company, with market value that has increased by 145% from five months ago," Temer recalled, adding that the approval of the new law will be remembered

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Big Changes in Brazil Ahead will Benefit all Country

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