• Categories
  • Archives

Oil Exploration Bidding in Brazil Brings Record Number of Companies

The Seventh Round of Bidding for the Exploration and Production of Petroleum and Natural Gas in Brazil, which began today, is setting a new record: 114 domestic and foreign companies qualified to bid for 1,134 exploratory blocs in 34 sectors of the country’s 14 sedimentary basins.

This is triple the average number of firms that participated in the previous rounds. Of this total, 44 are eligible for part A of the auction – exploratory blocs with risk potential – and 89 for part B – inactive areas with marginal deposits, so-called "marginal fields," in which petroleum and gas exist but in small quantities.

The numerical discrepancy is due to the fact that 19 companies are eligible for both parts A and B. The number of firms qualified for part A also surpasses the previous record of 42 firms enrolled in the Second and Third Rounds.

Of the 114 eligible companies, 24 are foreign, and 90, domestic. Of the firms eligible for part A of the Seventh Round, 20 are domestic, which represents a record participation by Brazilian companies in exploratory bloc auctions in the country.

Among the domestic firms, most are participating for the first time, alongside companies that already hold concessions. The foreign companies include major names in the sector, such as Exxon, Shell, Chevron, Amerada Hess, Devon, El Paso, Eni, Kerr-McGee, Repsol, and Total.

The Seventh Round of Bidding will continue through Thursday, October 20, in the Sheraton Hotel, in the south zone of Rio do Janeiro. The process is taking place under the auspices of Brazil’s National Petroleum, Natural Gas, and Biofuels Agency (ANP).

Agência Brasil


  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Brazil Gets Biodiesel Tractor

Vehicle maker Agrale has sold its first biodiesel powered vehicle in Brazil, the Agrale ...

US Bought Over 70% of Brazilian Honey Exports in 2008

The year of 2008 ended with positive figures and record-high pricing for the Brazilian ...

Lula Can Campaign for His Pick for President But Only After Working Hours

The president of  Brazil, Luiz Inácio Lula da Silva, was authorized to participate in ...

Foreign Investment in Brazil More than Doubles to US$ 31 Billion

The Brazilian Central Bank disclosed this Wednesday, November 28, that Foreign direct investment (FDI) ...

Brazil’s Hip Accessories Maker Chilli Beans Gets a Shot in Hollywood

Chilli Beans, Brazilian brand of accessories like dark glasses and watches, is looking for ...

Brazil’s Petrobras to Spend US$ 6.5 Billion in Its Biggest Project Ever

Petrobras presented plans for a US$ 6.5 billion petrochemical complex described as the "biggest ...

Spanish Oil Company Uses Seismic Imaging Technology off Brazil’s Coast

Spain-based oil and gas company Repsol, which operates in over 30 countries, has begun ...

Brazil: European Free Trade Agreement on Track Again

Brazil’s Minister of Foreign Relations, Celso Amorim, reports that Mercosur member-nations have accepted an ...

Good Prospects for Brazil Don’t Prevent Market Fall

Latin American stocks slumped again this Wednesday, March 8, amid ongoing concerns over rising ...

Brazilian Furniture Makers Betting on Foreign Market

Three companies located in the city of Lagoa Vermelha, in the southernmost Brazilian state ...