Brazil energy council approves E&P rounds: report

Brazil

BRASILIA, December 18, 2018 – Brazil’s National Council for Energy Policy has authorised two new bidding rounds to take place next year, international media reported Monday.

The country’s 16th Bidding Round will occur in October, while the 6th Pre-Salt Bidding Round will be held in November, an anonymous source told Reuters.

A tender for Petrobras’ acreage under the transfer of rights scheme has not been discussed, the report added. Expected to draw in USD 27 billion, that auction is a priority for president-elect Jair Bolsonaro. However, the NOC cannot move forward until it reaches an agreement with the Brazilian government regarding the value of the acreage.

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