BrazAlta in Wait-and-See Mode for Round 9

Canadian hydrocarbons company BrazAlta will decide on whether to participate in Brazil's ninth licensing round of oil and gas exploration areas after the list of blocks is published, company CFO Craig Nieboer told BNamericas.

"We cannot really tell for sure if we will be in round nine. We will evaluate this possibility. BrazAlta may bid for some oil blocks," Nieboer said.

BrazAlta, which produces 400b/d, explores four blocks in the Reconcavo and Sergipe basins in partnership with Brazilian independent W Washington.

"If we take part in round nine, we will likely bid in partnership with W Washington. We are happy with our partnership with them. However, we cannot rule out other partners as we all know the risks concerning oil E&P," Nieboer said.


BrazAlta wants more guarantees in the bidding process as the company still faces problems with blocks 161, 172 and 177 in the Tucano basin that it won in round eight.

BrazAlta and its partner W. Washington had the winning bids, but a judicial injunction cancelled the auction.

"For round nine, we need to avoid problems such as those we had in round eight. We were awarded two blocks, but unfortunately we had that injunction," Nieboer said.

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