Brazil to auction potentially rich oil blocks in November
Published September 20th, 2007
Brazil plans to auction 152 potentially rich offshore oil blocks in late November, according to the National Petroleum Agency.
Several of the blocks have an “elevated potential to hit oil or gas,” the agency known as ANP said in a statement late Tuesday. They are next to recent promising finds in Brazil’s Santos Basin.
Earlier this month, state-run Petroleo Brasileiro SA, or Petrobras, and Britain’s BG Group announced they hit oil in the Santos Basins’ Carioca field. In October 2006, the companies discovered oil in the nearby Tupi field.
Several of the blocks that will be auctioned in November lie between those two finds.
The Tupi field lies below a water depth of 2,140 meters (7,060 feet), then a 2,000-meter-thick (6,600-foot-thick) salt layer that itself is under more than 3,000 meters (almost 10,000 feet) of sand and rocks.
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