The Brazilian Association of Independent Oil and Gas Producers (ABPIP), a civil entity representing independent producers in Brazil, publicly expresses its deep concern regarding reports in the national media about the possible adoption by the federal government of fiscal measures specifically targeting the oil and gas exploration and production sector, aimed at generating extraordinary revenue to contribute to fiscal adjustment.

Ongoing discussions include, among other points, the revision of reference price-setting instruments and mechanisms for calculating government take, with potential impacts especially concentrated on mature fields, marginal accumulations, and independent operators — segments which, due to their economic and operational characteristics, require specific incentives to maintain and continue production.

While we acknowledge that fiscal balance is a legitimate objective of the State, it cannot be pursued at the expense of the economic viability of mature and marginal assets. The production from these assets is essential for preserving jobs, stimulating regional economies, and ensuring energy security — particularly in Brazil's North and Northeast regions.

The potential adoption of fiscal measures without proper regulatory impact assessment, public consultation, and appropriate transitional mechanisms violates the principle of legitimate expectation, putting hundreds of productive operations at risk. The consequences are serious and may include: premature abandonment of fields, reduction in investments, loss of jobs, and structural decline in future revenues — ultimately resulting in the opposite of the intended effect.

It is important to highlight that recent changes — still under review — proposed by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) regarding the methodology for calculating reference prices are already placing significant pressure on the operational margins of independent companies. These changes fail to consider the technical and economic specificities of mature and marginal fields, potentially leading to increases of more than 15% in certain scenarios — which could render a large portion of currently active assets economically unviable.

We also emphasize that the oil and gas sector is already highly taxed, with two out of every three barrels produced allocated to the payment of taxes, fees, and government royalties. Any additional and selective increase in this burden on the least resilient projects threatens business diversity and undermines the incentive framework that has supported Brazil’s energy policy in recent years.

Regulatory and legal predictability is not merely a legitimate demand from the productive sector — it is a fundamental condition for long-term investment in a capital-intensive industry with extended return timelines. Abrupt measures at this moment could harm investor confidence, increase regulatory risk, and jeopardize the future of Brazil’s oil and gas industry.

ABPIP reaffirms its commitment to the sustainable development of the country and to technical, transparent, and respectful institutional dialogue. It urges that any proposals with significant fiscal or regulatory impact on the sector be preceded by thorough technical analysis, interinstitutional dialogue, and respect for the diversity of business models that compose this strategic industry for Brazil.