“Bruno Belchior is very knowledgeable, hardworking and practical. His extensive network and understanding of oil and gas matters is outstanding. He is able to deliver even in most complicated cases.”
The Legal 500
Overview
Bruno Belchior is a partner of Tauil & Chequer Advogados in association with Mayer Brown in the Rio de Janeiro office and a member of the Global Energy, Corporate & Securities and M&A practice groups. He represents global oil and gas players, and has a vast experience dealing with complex legal, transactional and regulatory matters. He has represented a wide range of industry players, such as operators, oilfield service providers, drilling companies, FPSO operators, private equities, funds and banks in several oil and gas related matters. Bruno has been the leader of major transactions in the entire petroleum industry chain, including E&P asset acquisitions, midstream and downstream M&A and project developments, including host government negotiations; exploration, development, and production operations; unitizations; and arbitration disputes.
Experience
Bruno has represented numerous energy companies in a wide range of projects. His distinguished clients and engagements have included:
M&A Transactions and Projects
Advised Petronas on the 2nd Transfer of Rights Surplus Bid Round promoted by ANP, which offered the development areas of the Atapu and Sépia, located in the Santos Basin.
Advised Petronas on the negotiation of all related commercial and operational contracts to the Sepia field, resulting from the 2nd Transfer of Rights Surplus Bid Round, including the Co-participation Agreement referring to the Transfer of Rights Regime (“ToR”) and sharing (“PSC”), and the unitized area involving ToR, PSC and concession.
Advised PetroRio on the acquisition of the Albacora and Albacora Leste Fields, and related infrastructure, including FPSOs, from Petróleo Brasileiro S.A – Petrobras – in the context of the Petrobras divestment process.
Advised Petronas on the 1st Cycle of Permanent Offer in the Production Sharing Regime promoted by the ANP. The bidding round offered 11 pre-salt offshore blocks located in the Santos and Campos sedimentary basins.
Advised Petronas on the US$1.29 billion acquisition of Petrobras’ 50% working interest in the offshore BM-S-36 block in the Tartaruga Verde feld and Module III of the Espadarte feld – in the context of Petrobras divestment process.
Advised Chevron on the Wintershall farm-in in Blocks SM-764, SM-766, CM-821, CM-823 and CM-845, offshore Brazil. Initially, Chevron holds a 40% stake in the blocks, Wintershall holds a 20% stake and Repsol holds the remaining 40% stake. We have assisted Chevron in the preparation of documents related to the withdrawal, as well as assisted in the other sensitive contractual issues related to the rights and obligations of the parties.
Advised Chevron on the US$450 million sale of its 51.74% operating stake of the Frade feld in the Campos basin block in offshore Brazil waters to PetroRio, a Brazilian independent oil and gas company.
Advised Total S.A. on the acquisition of approximately US$ 2.2 billion in assets from Petrobras’ divestment plan. The transaction involved assignment of participating interest in Iara and Lapa pre-salt fields (Santos Basin) from Petrobras to Total; option of assignment of participation in Perdido Foldbelt (Gulf of Mexico) from Total to Petrobras; sharing of capacity of Petrobras’ regasification terminal; and acquisition of equity participation by Total in Rômulo de Almeida and Celso Furtado power plants (Bahia).
Advised Parnaíba Gás Natural (i) on the acquisition of 50% participating interest held by Delp Engenharia Mecânica S.A. (16.665%), Imetame Energia S.A. (16.7%) and Orteng Equipamentos e Sistemas (16.665%) in the BT-PN-1 Concession (Parnaíba Basin); and (ii) in an M&A transaction involving a regulatory leading case before ANP, in which PGN was requalified as Operator and the Performance Guarantees granted by OGX (previous controlling shareholder of PGN) were returned.
Advised Barra Energia on the sale of its 10% working interest to Equinor in the Carcará pre-salt area (BM-S-8 Block), offshore Santos Basin;
Advised Perenco on the acquisition of Petrobras' 100% working interest in the so-called Pargo Cluster (Pargo, Carapeba and Vermelho Fields) – in the context of Petrobras divestment process
Advised BP on the acquisition of 40% participating interest from Petrobras in four blocks of the Equatorial margin, related to the assignment of Petrobras’ 40% Participating Interest to BP in the BM-CE-1, BM-CE-2, BM-BAR-3 and BM-BAR-5 Concessions.
Advised Maersk Oil on the sale of its assets in Brazil to Total S.A., in the context of the acquisition by Total S.A. of 100% of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), a wholly owned subsidiary of A.P. Møller – Mærsk A/S, in a share and debt transaction;
Advised Parnaíba Gás Natural S.A. (Eneva’s E&P subsidiary) on the acquisition of 100% working interest from Petrobras in the Azulão Field (aiming also the implementation of a new “reservoir to wire” project of Eneva)
Advised the Thai NOC on the acquisition of supermajor assets in deepwater offshore Brazil.
Advised a leading European bank on a reserve-based lending facility for Central Resources in Brazil.
Advised a supermajor on the acquisition of E&P assets in Brazil from a leading independent oil and gas company.
Advised a major Latin America NOC in several farm-in transactions in Brazil.
Advised a supermajor on the acquisition of 4 E&P licenses in the Equatorial Margin, Brazil.
Advised a leading Korean energy company on a US$2.4 billion sale of its Brazilian assets to a global oil and gas company.
Advised an international oil and gas exploration and production company on the sale of a production asset in Campos Basin, Brazil.
Advised an international oil and gas exploration and production company on the acquisition of a 20% participating interest in an Offshore Block in the Campos Basin, Brazil.
Advised a Spanish oil and gas company in connection with the due diligence and review of corporate acquisition documents for the purchase of a participating interest in an oil & gas concession in Brazil.
Advised one of the largest international oil and natural gas service provider on the acquisition of a petroleum services’ company in Brazil.
Advised several oil and gas companies (E&P and oilfield service providers) on the start-up process in Brazil, including negotiation, analysis and “tropicalization” of model forms, negotiation of several agreements, personnel hiring and other relevant matters.
Advised the subsidiary of the Angolan NOC on the acquisition of Brazilian independent oil and gas company, valued at approximately USD300 million.
Advised an oilfield service company in connection with FCPA matters and due diligence in Brazil.
Advised an oilfield service companies in connection with bid proceedings in Argentina, Mexico and Ecuador.
Advised a supermajor in connection with PSA matters in Uruguay.
Advised a major Latin American NOC on the acquisition of 10% participating interest in two Blocks (PSAs), in the Kwanza Basin, Angola.
Advised the Angolan NOC in the Angola LNG Project with investments valued at more than USD10 billion.
Advised an international oil and gas exploration and production company in the negotiation of PSAs and JOAs in Angola.
Advised the Angolan NOC on the acquisition of the refinery of Luanda plus exploration and production assets in the amount of USD1.3 billion.
Regulatory Deals
Advised a major Latin American NOC on the relevant corporate and regulatory matters related to the award of Pau Brasil PSA (in the context of the Pre-Salt Bid Round 5) and the formation of the Pau Brasil consortium with the JV partners.
Advised a major Latin American NOC in connection with the 1st Pre-Salt Round in Brazil.
Advised a Brazilian independent oil and gas E&P company in connection with regulatory issues related to the acquisition of another Brazilian independent oil and gas E&P, case in which, for the first time, ANP accepted the return of Performance Guarantees from qualified Operators.
Advised a private equity investment firm on an acquisition that involved a specific regulatory issue regarding change to control under Concession Contracts in Brazil.
Advised a supermajor in connection with a leading unitization case involving two concessions that straddle into an open acreage (pre-salt) in Brazil.
Advised a supermajor in connection with Dodd-Frank Act matters in Brazil.
Advised a supermajor in connection with regulatory issues in Venezuela.
Advised several national and international oil and gas exploration and production companies in connection with the qualification and bidding for exploratory blocks in ANP Bid Rounds.
Advised a major Latin American NOC in connection with the qualification and bidding for exploratory blocks in ANP Bid Rounds 8, 9, 10 and 11, including the qualification of its subsidiary in Brazil for the signature of relevant concession contracts.
Advised a leading agribusiness, sugar and bioenergy company in connection with corporate and regulatory matters involving the construction of 2 Biodiesel Plants in Brazil.
Advised a leading agribusiness, sugar and bioenergy company in connection with several regulatory matters in Brazil.
Advised a leading agribusiness, sugar and bioenergy company in connection with the construction of multi-fuel terminal in Brazil.
Advised the Angola government on OPEC matters.
Advised the Angola government on drafting the Biofuels Bill.
Advised the Angola government on drafting the Downstream Bill.
Advised an Angolan oil and gas company with drafting decree-law regarding amendments to the profit oil shares to Angolan companies.
In-House Experience
Seconded to a supermajor as in-house counsel from 2011 to 2012
Seconded to a top-tier oilfield service company as in-house counsel during 2008
Transactions, regulatory matters and project development of pipelines, refineries, gas-to-power and liquified natural gas (LNG) are among Bruno Belchior‘s core areas of activity; he is also noted for his experience in joint ventures, bid processes and regulatory issues involving host government E&P contracts - Ranked as a Leading Individual for Energy And Natural Resources: Hydrocarbons in The Legal 500
Bruno Belchior focuses his practice handling complex M&A transactions for oil and gas companies. He offers additional strength in contract negotiations. – Ranked as Band 4 for Energy & Natural Resources: Oil & Gas in Chambers Brazil and Chambers Global
Ranked as Leading for Oil & Gas in Leaders League Brasil
Recognized in Energy in LACCA Approved
Recommended for Energy in Who's Who Legal
Partner Bruno Belchior is singled out by a client as an "excellent professional." He frequently assists companies with complex negotiations and M&A transactions in the sector. A source says: "Bruno has a great technical capacity, being an important actor in negotiations," and another client adds: "He is very professional and experienced with regard to oil and gas matters in Brazil." – Ranked as Band 4 for Energy & Natural Resources: Oil & Gas in Chambers Brazil and Chambers Global
“Bruno Belchior is a professional with a lot of technical capacity”. – Ranked as Next Generation Partner for Energy and Natural Resources: Hydrocarbons in The Legal 500
“Bruno Belchior is very knowledgeable, hardworking and practical. His extensive network and understanding of oil and gas matters is outstanding. He is able to deliver even in most complicated cases.” – Ranked as Next Generation Partner for Energy and Natural Resources: Hydrocarbons in The Legal 500
“Bruno Belchior is an excellent professional. His performance as a lawyer is outstanding. He works as hard as it is needed in order to achieve clients’ goals.” – Ranked as Next Generation Partner for Energy and Natural Resources: Hydrocarbons in The Legal 500
"(...) Another partner in Tauil & Chequer who has outstanding work is Bruno Belchior, due to his tireless work and dedication to his clients." – Ranked as Next Generation Partner for Energy and Natural Resources: Hydrocarbons in The Legal 500
Bruno Belchior is "a prompt, responsive and knowledgeable lawyer," according to a client. Another client also enthuses: "Working with him we really feel like we are in good hands. He is always available and tries to find creative yet practical solutions to ensure the customer's goals are met." – Ranked as Band 4 for Energy & Natural Resources: Oil & Gas in Chambers Latin America, 2021 and Chambers Global
Up-and-coming partner Bruno Belchior comes recommended for his solid experience providing counsel to both domestic and international corporations on sector-related transactions and the development of oil and gas projects. One client asserts: "Bruno is always available and provides high-quality assistance, trying to anticipate our company's needs to provide potential solutions." – Ranked as Up-and-coming for Energy & Natural Resources: Oil & Gas in Chambers Latin America
"stands out for his excellent knowledge of the sector's regulatory framework," according to one source, who adds: "He is always available and very committed. He is an excellent lawyer dealing with oil and gas transactions." Chambers Latin America
“One of the best E&P lawyers in Brazil” – The Legal 500
Recognized as a key name in the energy field by Latin Lawyer 250
Recognized in Leaders League’s Brazil Best Counsel 2019 as Leading in Oil & Gas.
"He stands out for his knowledge of the biofuel market and the positive client relationships he develops. (…) He is a proactive lawyer who has obtained favorable results for our company." Chambers Global
Bruno Belchior, who earns glowing plaudits from one client for his “timely responses, availability, technical understanding and good human relationship.” – recognized in Latin Lawyer 250
Education
University of California, Berkeley School of Law, LLM, Corporate Law/Business Law Certificate
Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio), Bachelor of Law (JD equivalent)
Admissions
Brazil
Languages
English
Portuguese
Spanish
Professional & Community Involvement
Member, Association of International Petroleum Negotiators (AIPN)