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Brazil: 64 bidders for 11th oil and gas auction

16th April 2013

Brazil approves record 64 companies to bid in USD 500m 11th auction of oil and gas blocks

Brazil has given a green light to 64 companies to bid in the much anticipated 11th round of auctions of oil and gas blocks, the country’s oil and gas watchdog ANP said on Monday.

 

The figure is a record, according to ANP. The 64 companies, four more than the previous record of 61 companies in the 9th round in 2007, will bid for 289 blocks in a month’s time.

 

The list of bidders includes the country’s main national oil and gas players, Petrobras and OGX Petroleo e Gas, as well as industry majors such as CNOOC, Shell, Repsol, BP, Exxon Mobil, Statoil and Petronas.

 

Some USD 500m in revenue are expected from the upcoming auction, ANP director Magda Chambriard said in February.

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