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PPI Council confirms PPSA/Pre-Salt qualification in the program

The Board of the Investment Partnership Program (CPPI) endorsed the resolution that recommended the qualification of the Empresa Brasileira de Administração de Petróleo e Gás Natural SA – Pré-Sal Petróleo SA/PPSA in the Investment Partnership Program. The measure was announced last night. fridaythursday (20th).PPI Council confirms PPSA/Pre-Salt qualification in the program

According to the Ministry of Economy, the objective of the qualification is to evaluate the privatization of the company and the assets under its management.

In addition to endorsing the resolution, the CPPI suggested the creation of an Interministerial Committee, formed by representatives of the Ministry of Economy and the Ministry of Mines and Energy, which will be responsible, among other things, for preparing, based on studies that may be developed , statement with an assessment of the privatization of the company and the assets under its management. This evaluation will, at the end, be submitted for approval by the CPPI.

procedures

The board also approved procedural adjustments to establish rules for the secondary public offering. By the approved resolution, as capitalization will no longer be carried out with shares directly owned by the Federal Government, adjustments were made regarding the approval of the Price per Share, which becomes the exclusive decision of the offerors (Eletrobras, BNDES and BNDESpar).

In addition, the flow of definition and publication of the minimum price per share was changed, which will be fixed at a new meeting of the PPI Board. The calculation methodology approved by the Federal Audit Court has not changed.

The PPI Council is responsible for qualifying the ministries’ proposals for the inclusion of projects in the Investment Partnership Program.

PPSA

Created in 2013, PPSA/Pré-Sal is a federal public company linked to the Ministry of Mines and Energy (MME). It is responsible for managing the production sharing contracts entered into by the MME and the contracts for the commercialization of oil, natural gas and other fluid hydrocarbons in the Union.

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