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The New Institutional Economics and the Onshore Oil and Natural Gas Exploration and Production Activities in Mature Fields in Brazil.

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Author(s):
Maria Regina Macchione de Arruda Zamith
Total Authors: 1
Document type: Doctoral Thesis
Press: São Paulo.
Institution: Universidade de São Paulo (USP). Instituto de Eletrotécnica e Energia (IEE/BT)
Defense date:
Examining board members:
Edmilson Moutinho dos Santos; James Silva Santos Correia; Murilo Tadeu Werneck Fagá; Jose Guilherme de Souza Moreira; Fabio Taioli
Advisor: Edmilson Moutinho dos Santos
Abstract

By Adopting the New Institutional Economics (NIE), and the theory of Transaction Cost Economics (TCE), this work discuss about the Brazilian institutional environment for oil and natural gas exploration and production (E&P), the regulation and main features. This study discusses the specificities related to the development of onshore activities on mature and/or marginal oil and gas fields. These areas are the majority on the Brazilian developed onshore segment. The Thesis sustains that such a segment of E&P activities needs a special treatment in terms of regulation and other public policies, aiming at to improving the entrance of new players in the sector and its long-term growing. For a comparative analysis, the study of the onshore activities development in Texas provides important insights to understand and criticize de Brazilian situation. The Thesis compares both realities in terms of the regulation and incentives programs, industrial structure, history of activities as well as the main role players by the respective Oil and Gas Regulator, the National Petroleum Agency (ANP) in Brazil, and the Texas Railroad Commission (TRC) in Texas. TRC’s long experience in regulating Texas’ onshore oil and gas activities, whose present situation has similarities regarding to the Brazilian onshore areas (by their maturity), reveals a series of paths to improve Brazil’s oil and gas regulation and boost its onshore activities. (AU)