Brazil 2017 Subsalt Oil Rights Sale To Unlock Stalled Fields

"Petrobras is broke, the rules a mess. Without change we're stuck," the Carcará partner said.

A bill ending Petrobras' obligation to lead all new subsalt development should pass Congress within weeks, opening the 2017 subsalt auction to new bidders, Felix said.

Rules clarifying unitization of concessions and production-sharing contracts will be complete by year end, he added.

(Reporting by Jeb Blount; Writing by Jeb Blount and Alonso Soto; Editing by David Gregorio and Ed Davies)


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