As for the 6th Bidding Round on Thursday, it covered five “high potential” exploratory blocks in the pre-salt polygon and was billed as the last auction in a cycle of lower risk blocks with high signing bonuses. As such, many of the issues from the TOR auction likely remained on
In September, oil and natural gas production in Brazil totaled 3.738 million boe per day. The Lula, Buzios and Sapinhoa fields, all in the pre-salt Santos Basin, produced 1.924 million boe/day, corresponding to about 51.5% of Brazilian production in the month. Oil production was approximately 2.927 million barrels per day,
After the undeniably disappointing results in yesterday’s TOR auction, the song remained the same today in Brazil’s 6th pre-salt production sharing round, showing that global oil majors are hesitant with structure offered up by the Brazilian government. Even with more rational pricing and clearer terms, competition over the pre-salt exploration
After months – maybe even years – of hype, Brazil’s Transfer of Rights finally hit the auction block this morning, with only two of the four development blocks on offer being scooped up and the Brazilian government bringing in only R$68.37 billion or approximately US$16.77 billion in signing bonuses (fixed).
Next week (October 29-31), the heart of Brazil’s O&G sector, Rio de Janeiro, will host OTC Brasil 2019, without a doubt the most important industry conference in the country. With three jammed-packed days of exhibitions, interactive sessions and technical talks, OTC will bring together the leaders that are actively shaping Brazil’s
The results clearly show the companies’ focus on the pre-salt reservoirs around the PSA polygon. The blocks in the Pernambuco-Paraíba, Jacuípe and Camamu-Almada frontier basins received no bids, demonstrating the current risk aversion of the participating companies. The Campos Basin received the biggest offers, with the most promising blocks being acquired
ANP’s 16th Bidding Round brought in R$8.9 billion (approx. US$2.17 billion) in signing bonuses, a record for concession rounds in Brazil. The round will generate investments of at least R$1.58 billion in the first phase of the concession contracts (exploration phase) alone. Twelve of the 36 maritime blocks on offer
On Thursday (Oct. 3), ANP published a list of authorized bidders for the upcoming 6th pre-salt bidding round slated for November 7. The list was approved during a CEL meeting on Wednesday night and published in the Official Gazette on Thursday morning. According to ANP, there are still four other companies that
The 16th Bidding Round will take place this Thursday (10/10). 36 blocks in the Pernambuco-Paraíba, Jacuípe, Camamu-Almada, Campos and Santos maritime sedimentary basins will be on offer, totaling 29,300 km². With the exception of Enauta and Petrobras, all registrants are foreign, with only Petronas never having worked in oil and
According to ANP, oil and natural gas production in Brazil totaled 3.828 million barrels of oil equivalent per day in August, a new record. Oil production was approximately 2.989 million barrels per day, an increase of 7.7% from the previous month and 18.5% from August 2018. The volume exceeded the
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