ANNOUNCED AS TEMPORARYNo
On 5 May 2014, Oswaldo Pedrosa, CEO of the state-owned company representing Brazilian interests in the exploration of pre-salt oil fields Pré-Sal Petróleo S.A. (PPSA), stated that some of the local content requirements will be reduced in order to enable the fast exploration of its pre-salt oil deposits. This will mostly concern high-tech equipment needed for early exploration.
The general local-content requirements will not be changed and consist of:
37% during exploration
55% during development until 2021
59% after 2021
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