Brazil: No pre-salt round until 2016
Brazil has deferred its next pre-salt oil and gas auction until 2016, according to the country's hydrocarbons regulator ANP.
But sub-salt blocks are likely to be offered to bidders during the first half of 2015, ANP director Hélder Queiroz said at an event in Rio de Janeiro.
"We are working so that next year there are bid rounds for new concession areas, which should occur before June," Queiroz was quoted saying by the Folha de S Paulo newspaper.
A call for expressions of interest in the sub-salt round is expected to be issued by December.
Queiroz confirmed onshore and offshore blocks would be considered, but said areas were still being assessed for possible inclusion.
The government had mooted the possibility of annual pre-salt rounds following the auction of the Libra oilfield last October. Libra was the first area to be offered from reserves located under a 2km-carbonate crust under the Atlantic seabed.
Brazil's pre-salt areas are auctioned under a production-sharing agreement, introduced by the government in 2009.
Under the model, state-run oil firm Petrobras is obliged to hold a 30% operating stake in all blocks.
According to ANP, Brazil's pre-salt reserves exceed 35Bboe, making the area one of the world's largest hydrocarbon reservoirs.
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