RIO DE JANEIRO’S NEW PROGRAM TO DEVELOP OIL&GAS

On Tuesday (13/09), Rio de Janeiro published the State Law 9.850, which established the State Program for the Promotion and Development of Oil and Gas Producing Areas (Propetro). The programs foresees the development of support, partnership, and technical guidance policies for cities in Rio de Janeiro that produce Oil and Gas. Its main objectives are the increase in royalty revenue; integrated training actions for state and municipal employees; the implementation of policies to attract investments; the elaboration of technical studies to guide the application of government participations; and the execution of infrastructure works related to oil and gas production.