SAO PAULO Nov 29 The enactment of a law to free
Petróleo Brasileiro SA from being the sole operator of offshore
fields in Brazil's so-called Subsalt Polygon will help the
state-controlled oil producer optimize capital spending plans
and accelerate production, Chief Executive Officer Pedro Parente
said on Tuesday.
Parente spoke after Brazilian President Michel Temer signed
a law removing Petrobras' obligation to be the sole operator in
subsalt fields. Petrobras produces about 80 percent of Brazil's
oil and was until now responsible for developing massive
offshore oil finds in the Subsalt Polygon.
(Reporting by Guillermo Parra-Bernal; Editing by Andrew Hay)