The Chamber of Deputies approved this Thursday (12) the bill (PL) 3,337/2024 that allows the transfer of the surplus of the minimum local content index between oil and natural gas exploration and production contracts. The proposal will be sent to senators for analysis.
According to the project’s rapporteur, deputy Kiko Celeguim (PT-SP), the idea is to increase national hiring at levels higher than those contractually required in local content. “The proposal aims to encourage national hiring at levels higher than those required contractually, boost Brazilian industry, in particular the naval sector, and boost technological advancement”, explained the parliamentarian.
Thus, the project conditions the transfer of surpluses to similar activities. In this way, it can be total or partial and be carried out in environments, phases, stages and groups of expenses different from those verified in the destination contract, “double calculation is prohibited”.
ANP
The National Agency for Petroleum, Natural Gas and Biofuels (ANP) will be responsible for determining, registering and controlling transfers of surpluses of minimum local content.
For contracts in which there is no commitment to minimum local content and the company promotes its implementation, the project provides that the corresponding value can be recorded and transferred between ongoing contracts.
Data from the federal government indicate that implementing 20% local content in the base project for the construction of each production platform would bring approximately US$650 million in investments to the domestic market in the first two years of construction, with generation, approximately 13 thousand direct and indirect jobs.
National shipyards
The text also incorporated Provisional Measure 1,255/24, which allows accelerated depreciation for new tankers, manufactured in national shipyards and used in cabotage transport of oil and its derivatives; of maritime support vessels, used for logistical support; and provision of services to fields, installations and offshore platforms.
Accelerated depreciation is a mechanism that reduces Corporate Income Tax (IRPJ) and Social Contribution on Net Profit (CSLL) that will have to be paid by benefiting companies.
According to the text, the tax waiver resulting from accelerated depreciation is limited to R$1.6 billion and will be valid from January 1, 2027 to December 31, 2031.
The project also increases the resources of the state-owned Pré-Sal Petróleo SA (PPSA). According to the rapporteur, the proposal seeks to give autonomy and sustainability to PPSA accounts, which are currently remunerated through a specific contract with the Ministry of Mines and Energy.
“Therefore, it is a worthy change, since the current model subjects the company to insufficient revenue to cover its expenses, especially when there are budgetary resource blocks”, explained Celeguim.
