Brazil council to auction new oil exploration areas in 2018

The National Council of Energetic Policy (CNPE) decided to include new areas in the round of auctions of blocks for oil and natural gas foreseen for next year, with the purpose of attracting Brazilian and foreign companies and raising scheduled investment. The decision was made Thursday (Jun 8).

Included in the 15th Bid Round for exploratory blocks, slated for May 2018, were sectors in the Sergige-Alagoas and the Pernambuco-Paraíba basins.

For the 4th Bid Round of blocks under the production sharing regime, an area to the south of Uirapuru was included. The council also made changes to areas in the Campos basin, which would be put up for auction in the 15th and 16th rounds.

In the meeting, the areas were presented where state-controlled oil giant Petrobras decided to exercise its preferential rights to act as operator with a minimum 30% interest in the consortium created for exploration and production in the 2nd and 3rd bid rounds under the production sharing regime. Among the areas are the Sapinhoá field, and the prospect areas of Peroba and Alto de Cabo Frio.

The two rounds are scheduled for October 27, and the federal government expects to raise $2.36 billion with the signature of the contracts, in case all eight areas are successfully auctioned.

Translated by Fabrício Ferreira