São Paulo – At the 13th round of bids for oil exploration blocks held this Wednesday (7th) in Rio de Janeiro, 37 of 266 blocks were sold, i.e. 14% of the total blocks offered. In a statement, the National Petroleum Agency (ANP) said investment is expected to amount to R$ 216 million (roughly US$ 55 million at current exchange rates). The sum to be paid by the winning bidders upon the signing of contracts, in December, will be R$ 121.1 million (US$ 31 million).
Seventeen companies from seven different countries placed winning bids. Eleven of them were Brazilian and six were foreign, from Canada, China, the Bermuda, Panama, Argentina and France.
Government news outlet Agência Brasil reported that ANP’s CEO Magda Chambriard said the agency had “moderate” expectations for the bidding round because the drop in oil prices is taking away from corporations’ fiscal results, and consequently their investment potential. Petrobras made no bids.
*Translated by Gabriel Pomerancblum
