Brasil Rounds

Concession agreements cerimony. Snapshots

Signature of concession agreements, March 12th

Concession Agreements Cerimony held in Rio de Janeiro on March 12th. Snapshots.


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Procedures and schedule

As stated on Section 6 of the Tender Protocol, bidders that won acreage during Round 9 must fullfill certain conditions to aptly sign the Concession Agreements which is scheduled to take place on March, 12, 2008. The venue and time will be announced on due time.

The bid bond payments will be done according to the following instructions (please note that payments will be accepted in ‘Reais’ only).

As of January, 21, winner companies may present the proper documentation as well as the payment’s receipts. Companies wishing to qualify affiliate ones to sign the contracts should submit the documents needed no later than February, 21th. The documents listed in Section 6 of the Tender Protocol must be submitted until February, 25th, except Bid bonds receipts and warranties documentatios that may be presented until March, 5th. As soon as this can be done the better so that the signature may be concluded on March, 12.

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List of required documents for the execution of the Concession Agreement¹:

Required Documents	Description	Comments
01. Certificates of compliance with taxes before the Federal Public Administration.	The provisions of section 6.3 shall be incorporated in this item	In the event of a registration as a debtor, the company must be submitted the additional documentation, according to ANP´s request.
02. Power of Attorney for the appointment of the authorized representative for the execution of the Concession Agreement.	ANNEX XII	Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)
03. Legal Opinion containing the Organization Chart or chain of control.	As applicable	Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)
04. Consortium Agreement		Enrolled in the Board of Trade/original/ notarized.
05. Payment of the Signature Bonus (Issue Tax payment form).	The receipt listed in item 6 of this table must be delivered.	ANP request that the payment must be executed up to 5 (five) working days before the execution of the Agreement.
06. Proof of Payment of the Signature Bonus.		Original. Until 5 days before the execution of the Agreement.
07. Certified copy of the Articles of Incorporation and amendments of the Agreement Signing².	Submitted by the signing (by-laws and Articles of Association, as applicable)	Notarized and duly enrolled in competent Board.
08. Certification of the winning qualified company for the execution of the Concession Agreement by means of the Brazilian Affiliated Company.	If applicable.	Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)
09. Guarantee for the Minimum Exploratory Program.		Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)
10. Documents to prove the signing powers of the financial bonds.	Documents to prove the signing powers of the financial bonds.	Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)
11. Guarantee of Performance.	According to the template of Final Tender Protocol (Annex X).	If applicable Notarization (Portuguese) Consularization/sworn translation and notarization (foreign justification)

Notes:
1 – The documentation must be delivered with the number of counterparts equal to the number of Agreements to be executed by the company, being at least one original counterpart (the copies must be certified).
2 – If the signing company is an affiliate of the qualified winning company, pursuant to the Concession Agreement, must submit a copy of its by-laws or Articles of Association, duly certified, in addition to the other documents related to tax, legal, financial and technical qualification required in this Final Tender protocol. A legal representative of the signing Company must check the original documents.

Signature of concession agreements

Concession agreements were symbolically signed by 34 winner companies (out of 36 registered in the auction). They are now formally concessionaries, according to the Brazilian petroleum law.

As stated in the Tender Protocol, remaining winner may present the required documentation as of March, 31.

Acreage left unattended will be subject to a new call on April, restricted to bidders that presented offers to those blocks.