Eduardo G. Pereira Livres

The upstream oil and gas sector in Brazil has suffered several changes since the first edition of Brazilian Upstream Law and Gas. These changes relate, among others, to the introduction of a production sharing regime, local content challenges and new regulations for unconventional operations. This new edition will include fully updated versions of all of the chapters covered in the first edition (including but not limited to the key elements of the Brazilian upstream legal framework, general Brazilian law, the regulatory entities and other players in the upstream sector, the petroleum legal regime, decommissioning challenges and project finance opportunities), but will also cover the regulatory changes for pre-salt and strategic areas, unconventional operations, local content challenges and other relevant topics. The chapters are written by highly respected Brazilian professionals, including experts from Mattos Filho, Pinheiro Neto, Machado Meyer Sendacz e Opice Advogados, Vieira Rezende, Merrill Lynch, Campos Mello Advogados and Ernst & Young (now known as EY). Their insights offer reliable guidance for international investors, as well as the lawyers assisting them, when they are required to consider potential investments in Brazil. Such insights will be particularly useful for those who are not yet familiar with the country's legal system.

"Joint operating agreements (JOAs) are well-accepted standard agreements in the oil and gas industry which regulate the relationship between the parties to a joint venture: the operator and the non-operator. Traditionally, the operator is responsible for performing operations on behalf of the consortium, while the non-operator is responsible for contributing to the financial commitments of the joint venture. However, due to the strong position typically maintained by the operator, this structure does not always accurately reflect the non-operator's position. Unbalanced agreements can create uncertainty, increase the risk of litigation and even jeopardise the very existence of the consortium. Therefore, it is essential to understand the position of both parties in order to ensure a fair and reasonable negotiation, and this fully updated second edition provides an in-depth analysis of the JOA from the perspective of the non-operator. Coverage includes an examination of the relationship between operators and non-operators under general law, and an analysis of the critical issues facing non-operators in a JOA. In addition, this book reveals how a non-operator can seek to protect its interests - initially through tight control of operations and expenditures, and ultimately through adequate remedies to remove the operator and/or restrict its liability. Further, this edition provides recommendations to address these concerns and also includes the JOA model form from Mozambique as well as reviews of other JOA model forms explored in the first edition. JOAs are relevant to law, finance, human resources and operations. This book provides invaluable practical guidance for in-house counsel, private practitioners, executives, academics, international oil companies, national oil companies, independents and anyone interested in investing in the upstream sector. JOAs are relevant to law, finance, human resources and operations."-- Back cover