COVID-19: new measures in oil and natural gas exploration and production activities

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) published on April 20, 2020, resolutions that establish new procedures to be adopted by companies operating in oil and natural gas exploration and production (E&P) activities while the temporary measures to deal with the public health emergency resulting from the coronavirus (Covid-19) continue.
ANP Resolution nº 815/2020 allows contracted companies to extend the Exploration Phase of E&P contracts for nine months. This is a relevant emergency measure in the current scenario to minimize the impacts on the oil and natural gas exploration sector.
ANP Resolution nº 816/2020 establishes measures related to the flexibility of some contractual obligations in the Exploration and Production Phase, including operational safety and environment, price of reference for natural gas, investments in Research, Development and Innovation (RD&I) and also local content.