CNPE Schedules Round 9 for Early November
Brazil's energy planning council, CNPE, has approved the ninth licensing round of oil and gas exploration areas for the first week of November, the mining and energy ministry said on its website.
Licensing will cover nine basins with large exploration potential such as Campos, Santos, Reconcavo Baiano and Espirito Santo.
Hydrocarbons regulator ANP will in 45 days announce bidding rules and identify blocks on offer, Agencia Brasil news service quoted ANH president Haroldo Lima as saying.
Natural gas will be the focus in the ninth round, Lima said.
Brazil's oil institute (IBP) is frustrated ANP did not name the blocks.
"We thought the exploration blocks would be disclosed, but that was not the case. We are frustrated as it will take at least four months to organize the ninth round," IBP executive secretary Alvaro Teixeira told BNamericas.
But the round likely will attract a lot of interest, said Marco Tavares, a partner at consultancy Gas Energy in Brazil.
"Oil and gas companies are going through positive times as they have deep pockets thanks to increasing energy prices worldwide. They will want to invest this money somewhere," Tavares said.
However, developing gas fields costs more in the exploration phase, he said, adding the country needs a regulatory framework to put this gas on the market.
"Since round five, ANP has been growing its focus on gas as Brazil urgently needs new players in this sector. Industries in Brazil are demanding new gas," he said. Visit BNamericas to access our real-time news reports, 10-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.
- Brazil's 8th Oil Auction Suspended Until Petroleum Laws Change (Feb 02)
- CNPE Schedules Round 9 for Early November (Jun 28)
- ANP to Start Round 9 Licensing Studies (Dec 26)
Company: Brazilian Institute of Petroleum (IBP) more info
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