On April 27, 2017, the CNPE published CNPE Resolution No. 9/2017 in the Federal Government Official Gazette authorizing the implementation of the 3rd Round of the Pre-Salt, by the ANP, under the Production Sharing Regime.

In the Round, Areas in the Santos and Campos Basins will be offered. The Resolution also established the minimum bonuses for each area:  R$ 1.5 billion for the Pau Brasil area, R$ 2 billion for Peroba, R$ 350 million for Alto de Cabo Frio-Oeste in the Santos Basin, and R$ 500 million for Alto de Cabo Frio-Central area, in the Santos and Campos Basins.

According to the Resolution, the profit oil percentage of the Federal Government shall vary depending on a Brent oil price of $ 50.00 per barrel and an average daily production of 12,000 barrels of oil per active producing well.

For each area, the minimum profit oil percentage will be: in the Pau Brasil Area, 14.40%; in the Peroba Area, 13.89%; in the Alto de Cabo Frio-Oeste Area, 22.87%; and in the Alto de Cabo Frio-Central Area, 21.38%.

From the date of publication of the Resolution, Petrobras has a maximum period of 30 (thirty) days to exercise its preemptive right to be operator of each of the offered areas.

We remain available for any further clarification: