Promoção de contratos de hidrocarbonetos

Abstract

The use of natural resources from the soil and subsoil, particularly hydrocarbons, brings enormous wealth to oil producing countries and also creates difficulties for non-oil producing countries. Until 1979, hydrocarbon exploration and exploitation was the responsibility of the National Directorate for Geology and Defense of the Subsoil, a body subordinated to the Ministry of Industry and Energy. In 1979, the Secretariat of State for Coal and Hydrocarbons was created, an entity subordinated to the President of the Republic, to coordinate all research activities and the use of coal and hydrocarbons. At this time, the need was felt to create a company to implement state policy in this area, which could associate with foreign companies in the research and production of hydrocarbons. Thus, in 1981, the state created the National Hydrocarbon Company. In 1981 law 3/81 was published regulating petroleum activities and in it the state granted the Empresa Nacional de Hidrocarbonetos the monopoly of the mining rights for the use, usufruct, management and disposal of hydrocarbons. Since the creation of the National Hydrocarbon Company contacts were made with companies interested in investing in Mozambique. From the various contacts one feels the need to establish contractual forms that allow for direct negotiation. Law 3/81 also establishes the way in which the National Hydrocarbon Company must associate with foreign entities. In the model contract, approved by the Council of Ministers, the form of association with foreign organisations, all forms of understanding between the contracting parties are articulated, from the economic, financial and accounting conditions, technical competence and other forms of relationship which allow such a complex activity as this to be regulated. The approval of this model contract also led to the legislation of the entire petroleum activity. This exhaustive legislation, still in force, consists of laws regulating the activity of companies, personnel, tax obligations and others. The law provides that foreign entities participating with the National Hydrocarbons Company E.E. have the right to recover the expenses and collect the benefits resulting from the application of capital. Hydrocarbon exploration must develop within a defined legal framework as well as the participation of foreign companies. Since oil exploration is an investment at the risk of the investor, there is no government participation and the National Hydrocarbon Company E.E. is only the body that supports and creates the conditions for the companies, it is important to review all the fiscal and economic conditions of the model contract in order to make this activity attractive. The financial crisis that has been felt has led to a reduction in the number of powers interested in prospecting in Mozambique, which has made it necessary to increase the incentives for foreign investors, not only in Mozambique but also in various other countries. In some African countries and others, fiscal and economic measures were introduced that made oil exploration attractive. It is with this objective that this work is done in order to present an alteration of the economic and fiscal regime in force. The work now presented reflects the reflections carried out in the sector in order to promote the petroleum activity in Mozambique.