Investor Presentaiton
428
YEARBOOK OF THE OIL AND NATURAL GAS INDUSTRY IN ESPÍRITO SANTO 2022
CHAPTER 3 | ECONOMIC REFLECTIONS
Schooling
ES
BR
ES/BR %
Illiterate
16
666
2.4
Up to 5th Incomplete
82
4,731
1.7
5th Complete Elementary School
78
4,751
1.6
6th to 9th Elementary School
324
13,312
2.4
Complete Elementary School
570
27,082
2.1
Incomplete High School
958
20,814
4.6
Complete High School
6,615 223,704
3.0
Incomplete Higher Education
366
20,231
1.8
Complete Higher Education
2,712
98,580
2.8
Master's Degree
224
4,269
5.2
Doctorate
24
707
3.4
Averagen Wage (R$)
ES
BR
ES/BR%
Average Wage
6.976,6
6.144,8
Source: Ministry of Labor and Social Security | Elaboration: Industry Observatory/Findes
3.2. Government Revenues
Government participations are fi-
nancial compensation paid by oil
companies as consideration for the
exploitation of a natural and finite
resource. Government holdings
can be divided between Royalties
and Special Participation (SP).
Royalties are a financial compen-
sation calculated through the ap-
plication of a rate provided for in
the contract, ranging from 5% to
15%, on the billing of the produc-
ing well. Special Participations are
a financial compensation paid by
oil companies that have fields with
great productivity. That is, it is an
extraordinary payment related to
the level of production of an area.
The calculation of the amount to
be paid in SP occurs through the
application of progressive rates on
the net revenue from the quarterly
production of each field.
In Brazil, oil and natural gas pro-
duction paid, in 2022, R$129.9 bil-
lion in government shares, 67.0%
higher than in the previous year.
This compensation was intended
for the Federal Government, the
states and the municipalities. The
composition of these payments
in the country was: 45.5% in roy-
alties; 45.3% in special partici-
pations, 8.9% in signing bonuses
and 0.3% in occupancy rate or
area retention.
In Espírito Santo, the total govern-
ment shares were BRL 3.3 billion
in 2022, 10.8% lower than in the
previous year (chart 26). The ex-
planation for this drop is due to the
34.6% decrease in oil production
and 37.62% in natural gas produc-
tion in Espírito Santo, in 2022. Of
this total, BRL 1.6 billion was re-
lated to the payment of Royalties
and BRL 1.7 billion was related to
the payment of Special Participa-
tions. The state received the third
highest collection of government
shares among all states, behind
Rio de Janeiro (BRL 49.5 billion)
and São Paulo (BRL 5.9 billion).
According to ANP projections, be-
tween 2022 and 2027, government
revenues from oil and gas explora-
tion within the areas of influence
of Espírito Santo are expected to
record an average annual growth
of 12.6%, reaching in 2027 a total
collection of BRL 4.3 billion (chart
26). It is expected that the collec-
tion of royalties will reach BRL 2.0
billion and the collection of Special
Participations will reach BRL 2.3
billion in 2027.
BRL
3.3
billion
fwere paid for the
production of oil and
natural gas to Espírito
Santo in government
shares in 2022
Chart 26 - Revenue from government participations (royalties and SP) in Espírito Santo (BRL million)
5,500
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
الاسلااا
Source: ANP | Elaboration: Industry Observatory/Findes
Constant values - IPCA [National Extended Consumer Price Index] accum. Jan-Dec 2022
I Municipalities of ES
Estate of ES
I Municipalities projection
IES State Projection
49
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