Financial & Fiscal Aspects of Oil & Gas Projects in Brazil
Under PSCs & Concession Regimes
21–23 July 2026
06–08 Oct 2026
Rio de Janeiro, Brazil
3 Days
5-Star Hotel
Materials Included
Classroom & Virtual
About This Course
Course Overview
This comprehensive course provides an in-depth examination of the petroleum fiscal frameworks governing both Production Sharing Contracts (PSCs) and Concession regimes in the Brazilian upstream sector. It covers the complete spectrum of petroleum economics and fiscal payments — bonuses, royalties, corporate income tax, production sharing mechanisms, and special resource rent payments — and explores how these fiscal terms impact project economics and commercial decision-making.
Participants gain detailed insights into Brazil's specific regulatory environment, including local content requirements, acreage allocation practices, and the competitiveness of Brazilian fiscal terms across different operational contexts: onshore, shallow water, deep water, and ultra-deep water.
The course also addresses contemporary challenges facing the industry, particularly the impact of energy transition on oil and gas projects. Topics include carbon pricing mechanisms, CCUS (Carbon Capture, Utilisation and Storage), renewable energy integration, hydrogen production, and how upstream fiscal policies are adapting to support decarbonisation while maintaining economic viability for petroleum projects.
Why Brazil?
Brazil is projected to become the world's fourth-largest oil producer by 2030. The country's pre-salt basins hold world-class reserves, and ANP continues to expand its Permanent Offer regime. Understanding Brazil's dual fiscal architecture — concessions alongside PSCs — is essential for any professional working in or entering the Brazilian upstream market.
Learning Outcomes
What You Will Learn
By the end of this programme, participants will be able to:
01Develop a solid understanding of Brazil's upstream petroleum fiscal frameworks, including the structure and application of Production Sharing Contracts and Concession regimes
02Explain how key fiscal instruments — royalties, bonuses, corporate income tax, cost recovery mechanisms, and special resource rent systems — shape project economics and investment decisions
03Evaluate government take and compare fiscal competitiveness across onshore and offshore environments (shallow water, deep water, ultra-deep water)
04Assess how regulatory factors such as local content obligations, bidding structures, and administrative requirements affect project viability
05Apply petroleum economics techniques to model cash flows and calculate NPV, IRR, and breakeven metrics under different fiscal scenarios
06Analyse emerging energy-transition policies, including carbon pricing, CCUS, renewable integration, and fiscal adaptations for low-carbon development within Brazil's upstream sector
07Compare Brazil's fiscal terms to those of comparable international jurisdictions to benchmark competitiveness and inform investment decisions
Programme
Course Agenda
Three intensive days combining expert instruction, real-world case studies and interactive financial modelling workshops.
Day 1Brazil's Regulatory & Fiscal Architecture
›
Brazil's constitutional and legal framework for petroleum resources
Role of ANP, MME, CNPE, and PPSA in the regulatory ecosystem
Overview of the Concession regime: structure, bidding rounds, and contract terms
The PSC model: pre-salt law (Law 12,351/2010) and institutional architecture
Comparison of Concession and PSC fiscal philosophies: risk allocation and government take
Day 2Fiscal Instruments, Economics & Government Take
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Signature bonuses and area rentals under Concessions and PSCs
Royalty regimes: rates, calculation bases, and differentiation by water depth
Corporate income tax (IRPJ/CSLL), depletion allowances, and depreciation
Cost oil and profit oil mechanics under Brazilian PSCs
Special participation (participação especial) and resource rent taxes
Modelling government take: contractor vs. state economics across scenarios
Local content obligations: requirements, compliance, and financial implications
Day 3Competitiveness, Energy Transition & Case Studies
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Brazil's fiscal competitiveness benchmark: onshore vs. shallow vs. deep vs. ultra-deep
International comparison of PSC and Concession terms
ANP Permanent Offer regime: implications for bidding strategy and pre-salt blocks
Carbon pricing mechanisms and their interaction with upstream fiscal terms
CCUS fiscal incentives and Brazil's cap-and-trade framework
Renewable integration and hydrogen production: fiscal policy directions
Integrated case study: financial modelling of a Brazilian deep-water development
Participants
Who Should Attend
This course is designed for professionals involved in upstream oil and gas project development, financial evaluation, and regulatory compliance in Brazil or comparable jurisdictions.
✓Petroleum economists and fiscal analysts
✓Government regulators and policy advisers
✓Financial planners and investment appraisal professionals
✓Contract negotiators working with PSC or Concession frameworks
✓Asset managers and portfolio strategists
✓Legal advisers specialising in oil and gas
✓Executives responsible for investment strategy or navigating Brazil's regulatory landscape
✓Specialists dealing with energy transition policies — carbon pricing, CCUS, renewable integration, and hydrogen
No specific prior knowledge of Brazilian law is required. A general familiarity with upstream oil and gas operations and basic financial concepts is assumed.
"The course was excellent and very useful for getting a global picture of fiscal regimes around the world. The instructor's knowledge is impressive as well as his experience."
Renato Noboa
Economist
"The course was very good. The instructor has a huge knowledge to share with the audience and made complex fiscal concepts genuinely accessible."
Erica Nascimento
Treasury & JV Coordinator
"Very very good. Level of detail, depth and breadth of knowledge and ability in answering questions surpassed all expectations."
Tyler Manchester
Economist
Questions & Answers
Frequently Asked Questions
Who is this course designed for? +
The course is designed for petroleum economists, fiscal analysts, government regulators, financial planners, contract negotiators, asset managers, and legal advisers working with Production Sharing Contracts or Concession frameworks. Executives responsible for investment appraisal and portfolio strategy will also find it valuable.
What fiscal frameworks are covered in this course? +
The course covers Brazil's Production Sharing Contracts (PSCs) and Concession regimes in full — royalties, bonuses, corporate income tax (IRPJ/CSLL), cost recovery mechanisms, profit oil sharing, special resource rent payments, and how these terms impact project economics and investment decisions.
Where and when are the classroom sessions held? +
Classroom sessions in 2026 are held in Rio de Janeiro, Brazil on 21–23 July, and 6–8 October. Sessions take place at five-star hotel venues and run 7–8 hours per day including a lunch break and morning/afternoon breaks.
Is a virtual option available? +
Yes. Virtual group sessions are available at £3,500 per participant via MS Teams or Zoom — 6 hours of teaching per day. Contact us for group and in-house pricing options.
Does the course cover energy transition topics? +
Yes. Day 3 dedicates significant time to energy transition topics including carbon pricing mechanisms, CCUS, renewable energy integration, hydrogen production, and how upstream fiscal policies are adapting to support decarbonisation while maintaining economic viability.
Can this course be delivered in-house? +
Absolutely. All LPA courses are available as fully customisable in-house training programmes, delivered at your offices or at a location of your choice anywhere in the world. Contact j.rogus@londonpetroacademy.co.uk to discuss requirements.
