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Brazil approves 117 extra blocks for May auction

05th March 2013

Government confirms 117 new blocks in May auction, more than half in promising new exploration area

Brazil approves 117 additional blocks for May auction
The blocks in Foz do Amazonas constitute a new exploration area set to attract both national and international oil companies

Brazil’s National Energy Policy Commission (CNPE) on Thursday gave a green light to the country’s oil and gas regulator ANP to include a further 117 blocks in the much anticipated 11th concession round in May.

 

The government has added 65 blocks from the Foz do Amazonas Basin; six from the Espírito Santo and 10 from the Pernambuco-Paraíba basins; and 36 from the Tucano Sul Basin.

 

The move brings the total of blocks on auction to 289. President Dilma Rousseff first requested the inclusion of the extra 117 blocks in January.

 

The blocks in Foz do Amazonas constitute a new exploration area in the equatorial margin near French Guyana which is set to attract both national and international oil companies. ANP director Magda Chambriard has said the area may hold oil reservoirs similar in size to those discovered in French Guyana and the west coast of Africa.