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Petrobras’ Libra field local content request granted

RIO DE JANEIRO, August 21, 2018 – Brazil’s National Agency of Petroleum, Natural Gas and Biofuels has approved a request to ease local content requirements for the development of the offshore Libra field, international media reported Monday.

Under the new terms, the field’s threshold for locally manufactured equipment and contracted services will be lowered in a move expected to speed up development.

 

The ANP granted the term changes for other developments as well. Interested companies with acreage granted in the 5th through 13th biddings rounds were given a deadline of August 10 to submit their requests. In total, the agency said 256 requests were made for 322 areas.

The adjustments are permitted following an April 2018 decision by the country’s National Council for Energy Policy.

NOC Petrobras operates Libra with a 40% stake, along with partners Total (20%), Shell (20%), China National Petroleum Corporation (10%) and China National Offshore Oil Corporation (10%).

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