According to the legislation Petrobras has the preemptive right to act as operator in the pre-salt blocks. In a consortium, the operating company is accountable for the conduction and execution of all activities established in the contract.
Petrobras chose to be the operator with 30% share in the block bordering Campo de Sapinhoá (Entorno de Sapinhoá) in the 2nd Bidding Round, and also with 30% share in the blocks of Peroba and Alto de Cabo Frio – Central in the 3rd Bidding Round.
For the blocks in which it exercised the preference to act as operator, Petrobras shall:
a) constitute a consortium with the winning bidder, in case the percentage of the profit oil offered for the Federal Union is equal to the minimum percentage defined by the tender protocol;
b) decide during the public session, within 30 minutes, if it will take part in the consortium with the winning bidder, in case the percentage of the profit oil offered for the Federal Union is higher than the minimum percentage established in the tender protocol.
If Petrobras decides not to join in the consortium, the winning bidder, individually or in a consortium, undertake 100% share in the bid block and indicate the operator and the new share percentages.