Brazil’s Presalt Oil Auction Achieved 100% Of Blocks Acquired
The auction, which was held on Sept. 28, raised roughly US$1.705 billion in signing bonuses and a commitment of US$250 million in planned investments in the exploratory phase. The areas offered by Brazil’s government were located in Santos Basin (Saturno, Titã and Pau-Brasil) and Campos Basin (Tartaruga Verde). Those areas are expected to hold roughly 12 billion barrels of oil equivalent.
Décio Oddone, the head of Brazil Oil and Gas Regulator (ANP) emphasized that the last 2018 presalt sharing bidding round proved the greater attractiveness of Brazil’s presalt layer. “Since the beginning of the sharing bidding rounds [started in 2013], 96% of the blocks were acquired. I don’t know any area in the world that could have achieved such success,” he said.