
The Brazilian government is desperately trying to attract foreign companies to develop its complex and potentially lucrative pre-salt oil fields. On Oct. 5, the lower house of parliament approved a regulatory change lifting the requirement that state-owned energy firm Petroleo Brasileiro (Petrobras) act as the primary operator in every pre-salt oil field. The legislation, which the Senate had already passed, sailed through the Chamber of Deputies by a 292-to-101 vote. Now, Petrobras will no longer have to meet a minimum participation requirement of 30 percent, though it will still be able to choose to take charge of pre-salt fields if it so desires. The lower house will discuss a few other details of the legislation next week, and if no changes are made, it will be sent to President Michel Temer for ratification. Temer's administration has been advocating this regulatory reform for some time.