São Paulo – The Brazilian federal government is holding a second pre-salt oil auction on the 31st at the São Paulo Stock Exchange (Bovespa). The auction will see an offer of 14.4 million barrels from Pré-Sal Petróleo,
the state-run company in charge of selling the Brazilian government’s share of oil and gas production-sharing contracts.
The purchase and sale contracts will be effective for 36 months. Standalone lots will be offered in the Mero, Lula and Sapinhoá fields. Bidders offering the highest premiums on the Petroleum Reference Price (PRP) from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) will win. The PRP is released by ANP on a monthly basis.
Translated by Gabriel Pomerancblum