O comitê operacional como mecanismo de governança dos consórcios para exploração e produção do pré-sal
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This paper aims to examine the legal aspects relate d to the consortium and Operating Committee which will be constituted under the new regulatory model created for the exploration and production of the pre-salt reserves – the production sharing agreement. First, it analyzes the history of oil an d gas in Brazil, which will contextualize the new model. Then, it will analyze the main aspects of the consortium in corporate law and legislation, emphasizing the peculiarities of this institute under the pre-salt regulation. Subsequently, it will anal yze the problems related to the decision making process in the pre-salt consortium, therefore, in the Operating Committee, which will administer the consortium. Thus, this paper will examine: (i) incomplete contract theory; (ii) principal-agent relationship; (iii) conflicts of a state-owned enterprise; and (iv) resource dependence theory. Based on the findings, the last part will seek to display the need to implement governance mechanisms in the execution of the production sharing agreements, in order to benefit all of those involved.