Brazilian local content under review
The year of 2017 was decisive for Brazil regulatory changes, especially regarding the local content. The government halved the local content requirements for last year's bid rounds (14th and 2nd and 3rd presalt bid round) in order to attract more investments to the country. The move paid off, and the attractiveness of the offshore blocks was outstanding. However, a solution for the local content (LC) was still missing in the pre-existing contracts to guarantee the sustainability of the industry until the results of the bid rounds arise, after 2025.
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