New oil, natural gas licensing round to take place by July

Monday, February 21, 2011

Brazil is poised to open a new oil and natural gas licensing round by July this year, a source at hydrocarbons regulator ANP told BNamericas.

"All blocks to be tendered are set to be outside the pre-salt cluster. Most blocks will be onshore and hold smaller reserves in the northeastern region of the country," the source said.

The Brazilian government's energy policy council (CNPE) will meet in the coming months to decide which blocks are to be offered. The watchdog will then make the official announcement and decide on the date.

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This will be the so-called 11th oil and natural gas round. The 10th round took place in 2008.

Pre-salt oil region blocks are also tipped to go on auction in 2011, BNamericas reported previously.