Fifteen Oil Majors Interested In Brazil's Round 3 Pre-Salt Auction

Fifteen Oil Majors Interested In Brazil's Round 3 Pre-Salt Auction
Fifteen companies have pre-registered for Brazil's third auction of oil exploration rights in the pre-salt area.

Reuters

RIO DE JANEIRO, Sept 11 (Reuters) - Fifteen companies have pre-registered for Brazil's third auction of oil exploration rights in the pre-salt area while ten companies have expressed interest in the second round, oil regulator ANP said on Monday.

ANP told Reuters that all the companies were oil majors.

The two auctions will take place on Oct. 27.

Through production sharing contracts, firms will be able to bid on eight blocks in the Santos and Campos basins in the pre-salt area, where hydrocarbons are trapped under thick layers of salt beneath the ocean floor.

The fields are considered among Brazil's most prized energy assets. Those already under production are showing above-average productivity.

The companies had a deadline of Sept. 8 to fill out an initial form expressing interest in the bidding process, but will not officially be considered registered until they have been approved by a committee.

No more companies can sign up to participate. Last month, oil regulator ANP published details of how the auction will work, including bidding arrangements for the three prospects for which state-controlled oil-giant Petroleo Brasileiro exercised its preferential rights.

The numbers of companies pre-registered for the bidding rounds first appeared in a column in Brazil's O Globo newspaper on Monday.

(Reporting by Alexandra Alper; Editing by Marguerita Choy)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Miguel Barros | Sep. 14, 2017
After 30 years working in the oil and gas exploration, I can say with certainty that no company that exploits and distributes oil in Brazil will lose money. We have one of the most expensive gasoline in the world and a very low labor cost. With this condition it is impossible for a company to lose.


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