Brazil approves 15 firms for March drilling rights auctions

Brazil approves 15 firms for March drilling rights auctions

Brazil’s national oil industry regulator has approved 14 companies to be bidders in next month’s round of auctions for oil rights both offshore and on land, according to Reuters.

The National Agency of Petroleum, Natural Gas and Biofuels (initialized as ANP for its Portuguese-language name) included global industry heavyweights BP, ExxonMobil, Repsol, Petrobras, Shell and Total among the bidders accepted for the March 29 auction.

All told, 70 blocks will be on offer with a potential estimated total price of $1.5 billion but it is unlikely all will be sold.

ANP is a federal government agency related to the Ministry of Mines and Energy. As well as handling oil and gas tenders on the behalf of the Brazilian state it also monitors the sector and produces statistics on it.

A further auction is planned on June 7 and that will focus on the offshore subsalt area where vast quantities of hydrocarbons are said to be trapped in rocks beneath a thick salt layer below the ocean floor.

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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1 Comment

  1. Anso
    February 26, 2018 at 8:09 pm

    Well, in 20-30 years iter project and fusion energy could displace oil and gas industry with a huge blow, what about the current investments in those countries looking to the future? Please consider it and evolutionate toward cleaner and more efficient energy forms ?