Petrobras close to shedding sub-salt yoke

摘要

Brazil's lower congressional house has approved a bill that would open up control of coveted sub-salt reserves to companies other than state-controlled Petrobras. The chamber of deputies voted on 6 October to approve a bill scrapping a provision in a 2010 law that obliges Petrobras to hold a minimum 30pc operating stake in production-sharing agreements, the contract model used for sub-salt acreage. Known as the sole operator provision, the rule has long been criticised for impeding oil development.