
Brazil will sell off 269 blocks of oil this year to international operators, albeit none in potentially highly lucrative so-called pre-salt areas lying deep in the Atlantic, a government minister said Monday.
Brazil is setting great store by the eventual exploitation of tens of billions of barrels' worth of pre-salt stocks and whose selloff, originally slated for next year, is now expected to come in about 2017.
In the meantime, Brasilia hopes the current auction round, slated for October, will net at least two billion reais ($666 million.)
"I want to invite everyone to participate on the 13th (auction) round. It will be an opportunity for firms to increase their participation or to enter the Brazilian market," said Energy Minister Eduardo Braga, hoping to spark a bidding war.
Braga, who this week is participating in the Offshore Technology Conference in Houston, Texas, indicated mature areas would be up for offer, along with some areas of high oil and gas potential.
By leaving aside pre-salt blocks any firms joining the auction are not required to associate themselves with troubled Brazilian state oil firm Petrobras, mired in a huge graft scandal implicating dozens of politicians and which has sole operator status for pre-salt areas.
GMT 09:54 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economyGMT 09:37 2018 Tuesday ,23 January
Former KPMG executives charged in accounting oversight scamGMT 22:49 2018 Sunday ,21 January
Brexit special trade agreement possibleGMT 22:46 2018 Saturday ,20 January
China economy rebounds in 2017 with 6.9% growthGMT 22:37 2018 Saturday ,20 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 19:58 2018 Saturday ,20 January
Watchmakers hope to make Chinese market tickGMT 19:54 2018 Saturday ,20 January
US shutdown unlikely to harm debt rating: FitchGMT 19:50 2018 Saturday ,20 January
EU's Moscovici slams Ireland, Netherlands as tax 'black holes'

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor