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Brazil’s upcoming oil auction attracts 32 bidding companies

Brazil’s upcoming oil auction attracts 32 bidding companies

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Brazil’s federal agency that regulates the oil sector, ANP, is a week away from holding its 14th round of bidding for the country’s oil and gas resources.

Of 287 total blocks that will be on offer, 110 will be offshore.

ANP says 32 companies, including industry heavyweights such as BP and Shell, are slated to participate in what is promised to be a simplified bidding process.

Among the simplifications will be the removal of local content as basis of offers and incentives to encourage the involvement of small and medium-sized firms.

These prospects on offer in the September 27 auction are in nine sedimentary basins. Two separate rounds of bidding will be held on October 27 for pre-salt sites.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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