Brazil to Hold Oilfield Auctions
Published September 4th, 2008
Brazil will hold two auctions of onshore oilfields in December, Mines and Energy Minister Edison Lobao said Wednesday.
The government plans to auction 171 blocks in Round 10 on Dec. 18, Lobao said. The country’s national petroleum agency, known as ANP, will sell another 13 onshore fields as part of the third round of mature fields auctions on Dec. 2.
Brazil’s has recently discovered deep-water finds off the Rio de Janeiro coast. Analysts say the fields could hold up to 55 billion barrels of oil and transform Brazil into a big oil exporter.
In 2006, Brazil was the world’s 13th-largest oil producer, according to the most recent data available from the U.S. Department of Energy.
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