Petrobras, Total win Brazilian pre-salt oil cargoes

RIO DE JANEIRO, September 3, 2018 – Brazilian NOC Petrobras and French major Total were the two winners of a government auction for pre-salt oil cargoes, international media reported over the weekend.

Held on Friday, the auction saw Petrobras sign two three-year deals for a total of 11.2 million barrels of oil from the Mero and Sapinhoá fields. Total, on the other hand, took 1.1 million barrels from the Lula field under a 12-month contract.

The auction was administered by Pre-Sal Petróleo, a company established under Brazil’s Ministry of Mines and Hydrocarbons to manage PSAs covering pre-salt acreage and the government’s take of pre-salt production.

Pre-Sal Petróleo’s first auction, organised in May, saw no contracts signed for oil cargoes.

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