Brazil’s ANP proposes to reduce existing local content commitments

Brazil's ANP has proposed much-anticipated terms for granting waivers for existing local content commitments. The new regulation, which will now undergo a public consultation period before enactment, also offers the possibility to swap existing local content commitments for the newly reduced and simplified local content terms applicable to future rounds. The policy promises to accelerate offshore development by giving operators more flexibility at a time when key areas of Brazil's supply chain are facing heavy strain. Read our Inform to learn more about how the new policy will impact the pre-salt's ramp-up and Brazil's production growth.