Victor Lopez, associate in the Energy & Natural Resources: Oil and Gas practice, is the author of an article published by BNamericas on ANP Resolution No. 983/2025. The Resolution authorizes operators of concession agreements to fulfill their Minimum Exploratory Program (PEM) obligations in areas other than those originally contracted, which may or may not be subject to other agreements. According to Victor, if well implemented, the prerogative could bring significant benefits to Brazil's E&P sector. These benefits include reducing litigation related to PEM non-compliance, enabling full or partial release of financial guarantees of PEM performance (encouraging new investments) and the discovery of exploratory potential in non-contracted areas.
The full article is available here.
