In the light of international practice in the petroleum industry, which elements of a legal and regulatory framework would be appropriate for attracting investment in the development of the Brazilian

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As a result of the recent discovery of petroleum in Brazil's pre-salt layer, the Government aims to construct a new regulatory framework to support the new challenge. This includes the need to attract vast investments and, likewise, to take into account the superlative expected profits, so that the national economy is protected. Important discussions among the key players in the petroleum sector, organized civil society and policy makers had been concluded before the Executive Branch sent some draft bills to the Parliament that shift the current legislation of concessions to production-sharing agreements; create a new state-owned company to manage the contracts; and enable Petrobras to capitalize itself and create a social fund to carry a percentage of the profits to the Brazilian health and educational systems. This paper examines the structure of the new legislation in the light of international practice in the petroleum industry, concluding with the pertinence of the switchovers to attracting investments in the development of the discoveries.

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Rodrigo Marcussi Fiatikoski on:

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