Bidders line up for Brazil auction

RIO DE JANEIRO, April 25, 2018 – The June auction for Brazil’s pre-salt areas has attracted a record number of 16 bidders, the country’s oil and gas regulator said on Tuesday.

The National Agency of Petroleum, Natural Gas and Biofuels, known as ANP, said that the companies expected to bid for PSCs included some of the world’s largest oil and gas operators.

Four offshore blocks will be offered in the latest round: Itaimbezinho and Dois Irmãos in the Campos Basin and Três Marias and Uirapuru in the Santos Basin. Altogether, the auction is expected to draw around USD 924 million in signing bonuses.

Last October, 15 companies vied for exploration rights in Brazil’s third pre-salt auction, including ExxonMobil, Chevron, Shell and BP.

In other news from Brazil, NOC Petrobras announced yesterday it had entered the binding phase of its sale of the offshore Piranema and Piranema Sul fields.

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