ANP to Hold Hearing on Marginal Field Tender March 21

Brazil's hydrocarbons regulator ANP will hold a public hearing on March 21 to discuss details of the second E&P licensing round for 21 marginal mature fields it plans to hold on May 31, ANP said in a statement.

The hearing will be held in Rio de Janeiro, ANP said.

Last year ANP tendered 16 of the 17 E&P licenses offered at the seventh exploration licensing round. The high level of interest led ANP to decide to hold separate tenders for marginal fields to give an incentive to smaller companies to start investing in the oil industry.

The so-called marginal fields are normally low-risk mature unproductive fields with known oil reserves that need new investment to restart production.

On May 31, ANP will offer three mature fields in the Barreirinhas basin in the northeastern state of Maranhao, 10 in the Potiguar basin in the state of Rio Grande do Norte and eight in the Espirito Santo basin in the state of the same name.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.