August 23, 2013
Updates on Brazil: Creation of PPSA and Pre-Salt Bid Round
Client Alert
On August 2, 2013, the Brazilian Official Gazette published Decree No. 8,063 (“the Decree”), which approves creation of the Empresa Brasileira de Administração de Petróleo e Gás Natural S/A - Pré-Sal Petróleo Brasileiro S.A. (“PPSA”). The purpose of the PPSA is to manage the Production Sharing Agreements as well as negotiate the Marketing Agreements for the sale of the Federal Government’s share of the hydrocarbon production.
READ: Updates on Brazil: Creation of PPSA and Pre-Salt Bid Round