Brazil: ANP Initiates 2nd Cycle of the Permanent Offer
On September 11, 2020, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) published in the Official Gazette the schedule for the 2nd Cycle of the Permanent Offer, initiated upon approval of a declaration of interest, accompanied by a bid guarantee, submitted by a company already enrolled in the Permanente Offer proceeding.
As detailed in our previous legal update on the subject, the cycles of the Permanent Offer are related to public sessions for presentation of offers for one or more sectors that have received a declaration of interest.
Companies not yet enrolled in the Permanent Offer must submit the registration documents by September 21, 2020. Bidders already enrolled and interested in participating in the 2nd Cycle have until October 13, 2020 to present a declaration of interest, which must be accompanied by a bid guarantee. Below you will find the schedule:
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Commencement of the 2nd Cycle of the Permanent Offer |
September 11, 2020 |
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Deadline to fill out the registration form, submit registration documents and pay the participation fee |
September 21, 2020 |
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Deadline for registered bidders to present new declarations of interest accompanied by bid guarantees |
October 13, 2020 |
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Disclosure of sectors offered in the 2nd Cycle of the Permanent Offer |
November 03, 2020 |
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Deadline for presentation of additional bid guarantees for sectors offered in the 2nd Cycle of the Permanent Offer |
November 16, 2020 |
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Public session for the presentation of offers |
December 03, 2020 |
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Deadline for winning bidders to submit qualification documents |
By January 04, 2021 |
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Award process and ratification of the bids |
By March 26, 2021 |
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Deadline to submit the following documents related to: (i) signing of the concession contracts; and (ii) qualification of the affiliate appointed for the signing of the contract, if applicable |
By May 24, 2021 |
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Deadline to pay the signing bonus and submit evidence of payment |
By May 24, 2021 |
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Signing of the concession contracts |
By June 30, 2021 |
It should be noted that the Special Bidding Committee – CEL may modify or suspend the schedule of the cycles, giving the necessary publicity and preserving the deadlines and bidder’s rights. In view of the emergency public health situation caused by COVID-19, the maximum term of 90 days to hold the public session for presentation of offers may be extended.
For more information related to this Legal Update, please contact us at EnergypartnersTC@mayerbrown.com.
