Petrobras notified of ANP's decision on local content in Libra

10/6/2017

RIO DE JANEIRO -- Petrobras informs that, as operator of the Libra consortium, it has been notified by the National Petroleum, Natural Gas and Biofuels Agency (ANP) of its decision on the consortium´s request for local content exemption for the items and subitems related to the platform subsystem of the Libra Pilot project.

The consortium´s request was based on the Production Sharing Agreement, which provides for an excessive price clause, as well as the lack of supplier capable of meeting local content requirements and accomplish the desired deadlines.

ANP’s decision exempts Petrobras from complying with local content requirements for all items of the hull and certain items of the plants (with the exception of basic engineering and detail items), in addition to adjusting the minimum commitments for other items of plant construction, installation and integration of modules.

Petrobras considers that easing the local content requirement is a positive sign for the oil and gas industry competitiveness in Brazil and will analyze with its consortium partners the impact of the adjustments made.

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