Brazil's auction of pre-salt oil exploration blocks gets $1.9 billionStaff Writer | October 28, 2017
An auction held Friday for the exploration of several areas of pre-salt oil reserves got a total of 6.15 billion reals, or about $1.9 billion, said Brazil's National Petroleum Agency (ANP).
Oil exploration National Petroleum Agency:
The auction was carried out by the ANP in a new model for oil exploration in Brazil, with the participation of Brazil's state-run oil and gas giant Petrobras as the operator of the pre-salt blocks being no longer mandatory, allowing a more active participation of foreign companies.
During Friday's auction, Petrobras led the consortiums winning the exploration rights for the three blocks of Sapinhoa, Peroba and Alto de Cabo Frio Central.
Chinese companies Sinopec, CNOOC and CNODC participated in the consortiums winning the above three blocks.
Winning consortiums in the auction also include the companies of Shell, Total, Statoil, Exxon Mobil, Petrogal and QPI.
Brazil's Mines and Energy Minister Fernando Coelho Filho hailed the auction results, saying they were above expectations, and showed that investors were attracted. ■