Rio de Janeiro – The largest oil industry auction ever held, the Transfer of Rights Surplus Bidding Round (the exploration and production rights of the surplus volume that the government granted Petrobras) raised BRL 69.960 billion (USD 17.462 billion) with the signing bonus this Wednesday (6) morning. It’s forecasted that BRL 106.5 billion (USD 26.6 billion) will be raised, but two out of the four blocs haven’t received any offers by the 14 participating companies.
Even without a bidding for two out of the four areas, the auction had the highest raising in the history of contests that were held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The raising of the signing bonus is larger than all auctions ever held by the regulatory agency combined. This bonus payment is set to occur later this year, before December 27.
Petrobras’ participation was key at the auction, since the state-owned company acquired 100% of the Itapu field and formed a consortium with 90% stake to acquire the volume of Búzios, the largest one in the auction. Chinese state-owned companies CNODC and CNOOC had a 5% stake each in the consortium.
Translated by Guilherme Miranda
