Decree No. 9.355 regulating governance, transparency and good market practices for the assignment of rights for exploration, development and production of oil, natural gas and other liquid hydrocarbons by the Brazilian Oil Company (Petróleo Brasileiro S.A. - Petrobras).
Country
Type of law
Regulation
Abstract
This Decree, consisting of 39 articles divided into four Titles, regulates governance, transparency and good market practices for the assignment of rights for exploration, development and production of oil, natural gas and other liquid hydrocarbons by the Brazilian Oil Company (Petróleo Brasileiro S.A. - Petrobras). This Decree establishes the special procedure for assigning rights for the exploration, development and production of petroleum, natural gas and other liquid hydrocarbons by Petrobras, as established in art. 29, in art. 61, and in art. 63 of Law No. 9.478 of 6 August 1997, and in art. 31 of Law 12.351 of 22 December 2010. The special procedures referred to in this Decree include the assignment of rights to the exploration, development and production of oil, natural gas and other liquid hydrocarbons by Petrobras, and its subsidiaries. The assumption of rights and formation of consortia with domestic or foreign companies (whether or not as a leading company) including participation in the above mentioned activities, shall remain governed by the regime of private companies in the character of free competition, and will not be subject to the special procedure referred to in this Decree.
The Decree is divided as follows: Assignment of Rights for Exploration, Development and Production of Petroleum, Natural Gas and Other Liquid Hydrocarbons (Title 1); Special Procedure for the Assignment of Rights for the Exploration, Development and Production of Petroleum, Natural Gas and Other Liquid Hydrocarbons (Title 2); Supervision of the Special Procedure for the Assignment of Rights for the Exploration, Development and Production of Petroleum, Natural Gas and Other Fluid Hydrocarbons (Title 3); Final and Transitional Provisions (Title 4).
The Decree is divided as follows: Assignment of Rights for Exploration, Development and Production of Petroleum, Natural Gas and Other Liquid Hydrocarbons (Title 1); Special Procedure for the Assignment of Rights for the Exploration, Development and Production of Petroleum, Natural Gas and Other Liquid Hydrocarbons (Title 2); Supervision of the Special Procedure for the Assignment of Rights for the Exploration, Development and Production of Petroleum, Natural Gas and Other Fluid Hydrocarbons (Title 3); Final and Transitional Provisions (Title 4).
Attached files
Web site
Date of text
Entry into force notes
This Law enters into force on the day of its publication.
Repealed
No
Source language
English
Legislation Amendment
No
Original title
Decreto n. 9.355 - Estabelece regras de governança, transparência e boas práticas de mercado para a cessão de direitos de exploração, desenvolvimento e produção de petróleo, gás natural e outros hidrocarbonetos fluidos pela Petróleo Brasileiro S.A. - Petrobras, na forma estabelecida no art. 29, no art. 61, caput e § 1, e art. 63, da Lei n. 9.478, de 6 de agosto de 1997, e no art. 31 da Lei n. 12.351, de 22 de dezembro de 2010.