4 companies register for Brazil pre-salt oil auction

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Tuesday, August 28, 2018

Brazil state-run oil firm Pré-Sal Petróleo (PPSA) said four companies are registered to participate on its next pre-salt oil auction, scheduled for August 31.

Shell, Repsol Sinopec, Petrobras and Total have registered for the second pre-salt oil tender after the first only had one company registered and did not receive any bids.

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PPSA will sell up to 14.4Mb from the Mero, Lula and Sapinhoá fields, separated by lots. The winner will be the firm that offers the highest price considering a minimum reference price established by regulator ANP.

If the 36-month contracts are not signed this time, the lots will be re-offered as 12-month contracts and will include the possibility of a discount.

The tender will take place on the B3 stock exchange.