Canada vs. USA Wealth Face-Off

 The Pre-salt Law says that PPSA won't take on the risks or pay for the costs and investments of shutting down the facilities. No cap. Furthermore, like when we're talking about the hypotheses of contract extinction, this Law is like "yo, the contractor gotta bounce with their equipment and goods, like they can't keep that stuff, it's all going back to the Brazilian government, you know?" It also like, makes the contractor responsible for fixing and paying for any damages they cause and doing the environmental stuff that the authorities say. The impact of foreign regs in the rule-making process of the Pre-salt Law has also been spilled in the second chapter, which spills how the studies done by ANP, EPE and BNDES affected the drafting of this Law.

The Vibes of the TLO


In a study developed in 2008, the BNDES analyzed the regulatory vibes of the countries of the Middle East and North Africa (MENA), Norway, the USA (Alaska), and Canada (Alberta). The next year, the BNDES did a second study where they analyzed the regulatory options of some countries (USA, United Arab Emirates, Norway, Angola, Indonesia, Mexico, Saudi Arabia, Venezuela, Russia, and Nigeria) about some themes that are part of the regulation of the upstream sector. But like, in this study, decommissioning wasn't really a big deal, ya know? They were like, "Nah, it's not important right now and the rules might change anyway."
So like, it's like totally impossible to like clearly ID the specific references used to like draft the rules on decommissioning present in the Pre-salt Law, ya know? The EPE like totally analyzed the E&P regulatory systems of ten HCs: Algeria, Angola, Azerbaijan, Kazakhstan, Colombia, Indonesia, Iran, Libya, Venezuela, and Norway. Lit, right? Regs in the upstream sector are like, all about regulating stuff and they're like, the basic rules in petroleum law, ya know? Like, yo, HG ain't really in a rush to talk about this topic since decommissioning only happens when the field is dead and gone. Hammerson and Antonas (2016) say that this was like totally true in the US, like they finally got their act together after the DeepWater Horizon accident in 2010. Brazil started to regulate decommissioning in general only after the creation of the ANP, ya know? The first reso related to this aspect was publishe in 2002 to guide the abandonment of wells drilled in the exploration and prod phase. But like, it was only in 2006. OMG the ANP just dropped a lit rule for decommissioning when the field's donezo. They're all about those guarantees, fam. These rules have been updated on the reg. OMG, RN ANP Resolution no. 

ANP Decommissioning Resolution


The ANP, the IBAMA, and the Brazilian Navy totally teamed up to draft the ANP Decommissioning Resolution, you know? They wanted to put all the rules for decommissioning in one place, so it's like, super clear and simple, and they can get it done real quick, you feel me? So, like, these three legit institutions for doing the analysis of decommissioning programs totally synced up on the procedural stuff (FGV, 2021). The ANP has the skillz to peep if the proposed project is lit, check out the reservoir situation for that recovery rate, and scope out the facilities inventory. IBAMA is like, totally in charge of making sure the project doesn't mess up the environment too much and that they've got plans to fix any damage it might cause. The Brazilian Navy is like, totally in charge of checking out the naval stuff to make sure the floating units are safe to remove and making sure all the equipment that's gonna stay there is mapped out and signaled properly. So, like, it can like analyze if the rest of the facilities might, like, mess with other uses of the marine space (FGV, 2021). This Resolution like totally brings in the term decommissioning into the Brazilian legal system, adopted internationally. It's like so lit! So like, it's all like, replacing the words 'removal' and 'abandonment' that were used in the Petroleum and Pre-salt Laws and the Brazilian E&P contracts, ya know? The studies done by the ANP analyzed the reg of Saudi Arabia, the US, Russia, and Venezuela. The ANP also made tech visits to Angola and Russia to check out the adoption of the PSCs.

The ANP Decommissioning Resolution sets the vibes for how we handle decommissioning projects, ya know? 


It's all about submitting three lit documents: The first is the 'Study of Justifications for the Decommissioning of Production Facilities', which should flex on the spot to be given up and the vibes of the reservoir, the wells, the facilities, and the motivation for the decision for decommissioning. The second doc is the 'Decommissioning of Facilities Program', containing all the deets, projects, and studies needed to plan and execute the decommissioning. The Resolution sets mad rules for activities in the exploration phase and the production phase, fam. For this last phase, rules are like totally defined for offshore installations, onshore facilities, and installations used in anticipated production systems. Ya know? 817 of 2020, which is all about decommissioning ops, is totally in effect rn. Yo, in dis thesis, we gonna call it the ANP Decommissioning Resolution, fam. Furthermore, the ANP is like totally doing the rule-making process of a resolution to deal with decommissioning financial aspects, ya know? So like, there's gonna be a lit new resolution dropping soon, fam. It's gonna be called the ANP Decommissioning Guarantees Resolution in this thesis, ya feel? These two norms will be flexed in the following sections, fam.

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