It was published today in the Federal Official Gazette the Ordinance MME 362/2019 amending Ordinance MME No. 213/2019 in the following aspects:

The first amendment seeks to make the text of MME Ordinance No. 213/2019 compatible with the text of CNPE Resolution No. 2, of February 28, 2019, in relation to the reference date for the compensation to be paid to Petrobras, which became the effective date of the co-participation agreement.

The second amendment seeks to link oil barrel values to long-term projections for Brent, including a mechanism for correcting the barrel value for the Buzios, Atapu, Itapu and Sepia fields. This provides greater predictability for the calculation of compensation to Petrobras and, at the same time, strengthens the balance of operations with the use of specific values for each of the areas.

The auction calendar follows, with a technical seminar foreseen for the bidding round for the surplus assignment volumes between September 25 and 27. The largest auction in the world is scheduled for 06/11.