Brazil will hold its first auction of pre-salt oil and gas blocks this year under the new production-sharing regime approved recently by congress, Mines and Energy Minister Edison Lobao said Monday.
Brazil
will
hold its first auction of pre-salt oil and gas blocks this year under the new
production-sharing regime approved recently by congress, Mines and Energy
Minister Edison Lobao said Monday.
Brazil will also hold an 11th round auction of concessions for non pre-salt oil
blocks, Lobao said during a ceremony in Brasilia in which he took office as
minister in the new government of President Dilma Rousseff. This will be the
first oil block auction to be held in
Brazil
since
2008.
The first pre-salt auction is expected to include some of the reserves
discovered in
Brazil
's
massive Libra field, which have been estimated by
Brazil
's Oil
Regulatory Agency ANP as holding recoverable reserves of between 3.7 billion
and 15 billion barrels of oil equivalent.
An ANP spokesman said final approval for the auctions is still required from
the country's National Energy Policy Commission, or CNPE. However, the ANP
already has everything ready for the 11th round and the intention is also to
proceed with the pre-salt round this year, he said.
ANP President Harold Lima said in early December that the 11th round is
expected to include areas in the equatorial margin region, which runs from
Bahia in northeast Brazil to Amazonas in Brazil's far north. This would include
onshore, shallow water and deep water blocks, but wouldn't include pre-salt
blocks.
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