Brazil takes first step to open subsalt fields

摘要

Brazil has cracked open a door to allowing overseas investors to operate fields in the country's promising subsalt frontier after the Senate approved a bill that eases the burden of developing the deposits on stateowned Petrobras. After a contentious six-hour debate, senators voted late Wednesday in favor of a bill that removes Petrobras' obligation to act as the sole operator and hold at least a 30% operating stake in production-sharing agreements for the deepwater province. Petrobras, however, will still have preferential rights to develop the subsalt fields.