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More companies allowed to join oil exploration

The permanent offer model covers 158 blocks

Published in 05/12/2018 - 18:18

By Nielmar de Oliveira Rio de Janeiro

Brazil’s National Agency for Oil, Natural Gas, and Biofuels (ANP) announced that nine companies have been authorized to present proposals under the “permanent offer” model in the areas for the exploration and production of oil and natural gas in the country’s sedimentary basins.

The decision was announced Tuesday (Dec. 4) and has authorized 19 companies to express their interest, out of a total of 34 firms who submitted documentation.

Under the model, fields that have been returned or are about to be returned are offered indeterminately, as well as exploration blocks that have been offered in previous bids but not acquired, or returned to ANP.

For the first stage, 884 blocks in 14 sedimentary basins have been selected, as well as 14 areas with marginal accumulation—some 80 percent of which in land basins and 20 percent in maritime basins—ANP reported.

“Of the 884 blocks, 158 are available now, after the tender was invited, and companies enrolled in the Permanent Offer may show their interest,” the note reads.

Translation: Fabrício Ferreira Edition: Talita Cavalcante / Nira Foster

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