The law that takes from Petrobras the obligation to explore the pre-salt was sanctioned on 29 Dec. by Michel Temer, the president said that the changes in the rules are being made for the benefit of Brazil. The new legislation allows other companies to exploit the layer.

"I feel that we are practicing an act for the benefit of Brazil, in so far as we allow other sectors, we are also increasing the margin of employment," says the president.

According to Temer, the mandatory participation of the state company was "exaggerated", because Petrobras aimed at economic prosperity and therefore, at certain moments would not have the goal of exploring oil.

Acctually, the state-owned company must have a minimum participation of 30% in all consortia exploring blocks tendered in the pre-salt area and as the operator. The changes, approved in the House and Senate, aim to increase private capital's entry into the holding.

Petrobras, however, will still have the preference to choose the blocks in which it intends to act as operator, provided that with the consent of the National Energy Policy Council (CNPE), taking care of national interests.

"I would like to congratulate the National Congress and the President for giving Brazilian companies the opportunity to share our wealth, this extraordinary reserve, this important polygon. [The law will] preserve and defend Petrobras and give it the right to choose, Said the Minister of Mines and Energy, Fernando Coelho Filho.