Espirito Santo Oil & Natural Gas Yearbook 2021
48
ESPÍRITO SANTO OIL & NATURAL GAS YEARBOOK | 2021
CHAPTER 3 GOVERNMENT SHARE AND ECONOMIC IMPACTS
Chart 32 Revenues from Special Shares in Espírito Santo in constant amounts (R$ million)
3,000
to 2019, the amounts paid in SS by
these fields were respectively re-
duced by -44.5% and -99.9%, and
these results are explained by the
lower production of oil and natural
gas in both areas (Table 2). In the
case of Rocandor, it was only in Q1
2020 that a positive net income was
recorded for calculating the SS.
2,500
2,000
1,500
1,000
500
3.1.2. Special Shares (SS)
The special share is a financial
compensation paid by oil compa-
nies that have fields with a high
production volume 18. I.e., this is an
extraordinary payment related to
the productivity level of an area.
The calculation of the amount to
be paid in SS is made by applying
progressive rates 19 on net reve-
nues 20 from the quarterly produc-
tion of each field.
After the unification of Parque das
Baleias 21, Espírito Santo passed to
border two fields that generated
special share resources in 2020:
Jubarte (R$ 751.0 million) and Ron-
cador (R$ 0.21 million). Compared
Table 2 Special participations paid by fields bordering Espírito Santo - 2020* (R$ million)
0
49
49
Field
Jubarte
Roncador**
2019
3,170.50
751.04
Estate of ES
Municipalities of ES
2020
Variation
Source: ANP | Prepared by: Ideies/Findes
1,759.94
-44.5%
0.21
-99.97%
(*) Amounts with deflation calculated according to the IPCA index (accumulated from Jan-Dec 2020).
(**) The field also borders the State of Rio de Janeiro. Therefore, part of that amount is also distributed to the State Government and the municipalities in
Campos dos Goytacazes and São Joao da Barra.
Source: ANP | Prepared by: Ideies/Findes
In 2020, Espírito Santo received
a total of R$ 1.2 billion in special
shares. Of that amount, R$ 997.1
million were allocated to the State
government and R$ 249.3 million
to the municipalities of Marataízes,
Presidente Kennedy, Piúma, and
Itapemirim, which border the fields
that entail the SS.
In 2020, compared to the same pe-
riod of the previous year, revenues
from special shares fell by 53.1% for
the State government and the afore-
mentioned municipalities in Espírito
Santo. It is worth reminding that Es-
pírito Santo beat the record in col-
lection the of SS due to the signing
of the contract to unify the Parque
das Baleias in 2019, and therefore
the comparison base was also atyp-
ically high (Chart 32).
In 2020, Espírito Santo was the sec-
ond State that received the most
revenues from special shares, sec-
ond only to Rio de Janeiro (R$ 8.7
billion), which accounted for 5.2%
the total special shares received by
the country. The other States that
received these resources were: São
Paulo (R$1.1 billion), Amazonas
(R$41.0 million), and Bahia (R$1.5
million).
We point out that the unification
of Parque das Baleias, through the
"Settlement for Ending the Dispute
Involving the Areas of the Contract
and Concession BC-60", has also
created a retroactive balance of the
special share to be paid in 42 install-
ments by Petrobras to the Federal
Government (50%), to the Govern-
ment of the State of Espírito Santo
(40%) and the municipalities (10%) 22
of Itapemirim, Marataízes, Piúma,
and Presidente Kennedy.
In 2020 alone, Petrobras paid a to-
tal of R$ 620.8 million in SS refer-
ring to the execution of that agree-
ment. Of that amount, R$ 248.3
million were destined for the Gov-
ernment of the State of Espírito
Santo and R$ 62.8 million for the
municipalities of the State 23.
Ranking of amounts received in Special Shares
1st: Rio de Janeiro
R$ 8.7
billion
Reais were received by Rio
de Janeiro in Special Shares
18. Its regulation happens through Law 9.478/97
(Petroleum Act) and Decree 2.705/1998.
19. They vary according to the location of the well,
the number of production years, and the quarterly
production volume calculated.
20. ANP monitors the cost of oil companies so
it may calculate that net income. Moreover, are
also considered the projected deductions (roy-
alties, investments in the exploration, overhead,
depreciation, and taxes).
2nd: Espírito Santo
R$ 1.2
billion
billion was received by
Espírito Santo in Special
Shares
21. In April 2019 was signed the unification field
in connection with the fields part of Parque das
Baleias, composed by the areas of Jubarte, Baleia
Azul, Baleia Franca, parts of Cachalote, and Pi-
rambu, in the Campos Basin. With that, one single
large producing field was formed, which is now
called "Novo Campo de Jubarte" or simply "Jubar-
te". That unification created a substantial volume
of SS payments to Espírito Santo. For more de-
tails, access the previous edition of this Yearbook:
https://portaldaindustria-es.com.br/system/re-
positories/files/000/000/952/original/Anuario_
Petroleo-ES_2020_port.pdf?1618494352
3rd: São Paulo
R$ 1.1
billion
billion reais were received
by São Paulo in Special
Shares
22. Pursuant to art. 50 of Law 9.478/97, the distri-
bution of the special share is made in the following
manner: i) 40% to the Ministry of Mines and Energy
(MME) and 10% to the Ministry of the Environment
(MMA), totaling 50% to the Federal Government;
iii) 40% to the States; and iv) 10% to municipali-
ties. In the case of Jubarte, the amount paid to the
municipalities is distributed among Itapemirim
(32.3045%), Marataízes (37.7702%), Piúma
(0.3230%), and Presidente Kennedy (29.6023%).
23. Learn more about the ANP reports regarding
the "Novo Campo Jubarte Agreement" at: https://
www.gov.br/anp/pt-br/assuntos/royalties-e-out-
ras-participacoes/participacao-especialView entire presentation