The Pre-Salt Oil Reserves in Brazil: To What Extent Is It Really Necessary to Adopt a Production Sharing Agreement System?
Article from: OGEL 3 (2009), in OGEL Student Special
Abstract
(CEPMLP) Brazil's pre-salt area became public in November 2007 when Petrobras made one of the most important announcements in its history: the discovery of a large oil reservoir in the Tupi field. Tupi was the first discovery in the pre-salt area which according to estimates could take Brazil to a select group of countries with substantial oil and natural gas reserves. Some authorities have suggested the adoption of Production Sharing Agreements ("PSA") with the creation of a special state-owned company to capture a larger share of the prospective ...