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Brazil hope to raise nearly $1 bln in June pre-salt auction

 

 

By Reuters Staff

RIO DE JANEIRO
Petroleumworld 11 13 2017

Brazil's government expects to raise around 3 billion reais ($916.98 million) in signing bonuses in an auction of blocks in Brazil's coveted pre-salt offshore oil region next year, two people familiar with the matter said on Friday.

The fourth pre-salt auction, slated for June 2018, includes five blocks in the Santos and Campos basins and will be offered under the production sharing regime.

The sources did not say whether the figure for the June auction assumed that all blocks would be awarded.

In the pre-salt layer, billions of barrels of oil are trapped under thousands of feet of salt beneath the ocean floor.

Brazil's government raised 6.15 billion reais ($1.88 billion) in signing bonuses for the six blocks it awarded late last month in the second and third pre-salt auctions, which saw aggressive bets by oil majors like Royal Dutch Shell and BP.

However, two blocks went unsold.

$1 = 3.2716 reais



Reporting by Rodrigo Viga Gaier; Writing by Alexandra Alper; Editing by Frances Kerry from Reuters.

reuters.com 11 10 2017

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