The Board of Directors of ANP approved on Wednesday (25/4) the draft resolution that will regulate the procedure for granting incentive to reduce the rate of royalties on incremental production in mature fields - that is, production that exceeds that forecast in the curve of the field.

The draft will be publicly consulted for 30 days, as of its publication in the Official Gazette, and will be followed by a public hearing, in order to give transparency to the process and listen to all those interested in the subject and society.

The proposal aims to foster activities in mature fields, leveraging short-term investments. For purposes of resolution, mature fields are those that have 25 years or more of production and / or have a production of 70% or more of the proved reserves (called 1P reserves).

To receive the incentive, the operator must send a request to the ANP, accompanied by a review of the Development Plan containing: projects that support the incremental production forecast; estimates of investments and recoverable volumes; evidence of economic benefit to the Union, including extension of field life, incremental recovery factor, and additional government participation.

According to the proposal, on the production that is within the reference curve of the field, will focus the current rate of each contract. In incremental production, the aliquot may be reduced to up to 5% depending on the additional volume that is actually produced.