Brazil expects 13th round of bidding to attract at least $0.87 billion in exploration investment
According to overseas media reports in Rio de Janeiro on July 11, Brazil's oil regulator
Release time:
2015-07-15
Source:
Sinopec News Network July 13, 2015According to overseas media reports in Rio de Janeiro on July 11, Brazil's oil regulator, the Brazilian National Petroleum Administration (ANP), said in Rio de Janeiro a few days ago that in order to complete the minimum exploration workload in the leased area that Brazil plans to auction in October this year, the winning oil company is expected to invest about 2.8 billion reais ($0.87 billion).
Marcelo Castillo, director of bidding for the Brazilian National Petroleum Administration, said at a seminar held in Rio de Janeiro a few days ago that the signing fee for offshore and onshore blocks should reach 0.979 billion reais.
In the 13th round, Brazil will offer 266 blocks, including 182 onshore and 84 offshore. Brazil slowed the pace of oil auctions nearly a decade ago after the discovery of giant oil fields in the country's deep-water so-called pre-salt region and the overhaul of its oil legislation to increase government control of the resource. Oil production growth in Latin America's largest economy failed to meet expectations.
Petrobras expects large and small producers to compete for exploration zones from onshore basins close to gas discoveries to deep waters.
In Brazil's deep waters, a single exploration well could cost more than $0.1 billion.
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