Jambon Boats - Brazilian Regulations
Jambon Boats works with the Brazilian oil and gas companies in accordance to regulations set forth by the nation’s government and described on the EIA.gov websie as so:
“The Brazilian government passed legislation instituting a new regulatory framework in 2010 for the presalt reserves that includes four notable attributes: First, the legislation created a new agency, Pré-Sal Petróleo SA, to administer new presalt production and trading contracts in oil and gas industry. The second component allowed the government to capitalize Petrobras by granting the company 5 billion barrels of unlicensed pre-salt oil reserves in exchange for larger ownership share. The other two components established a new development fund to manage government revenues from presalt oil and lay out a new production-sharing agreement (PSA) system for presalt reserves. In contrast to the concession-based framework for non presalt oil projects, where companies are largely uninhibited by the state in exploring and producing, Petrobras will be the sole operator of each PSA and will hold a minimum 30% stake in all pre-salt projects. However, to incentivize companies, the PSA will also include a signing bonus of $6.6 billion (USD) and a low-cost recovery cap.
In its first and, thus far, only competitive licensing round for a pre-salt field, the winning bid was a consortium made up of Petrobras (with 40% stake), Royal Dutch Shell (20%), Total (20%), CNPC (10%), and CNOOC (10%).”