Brazil's 13th round to attract global interest, says regulator

Wednesday, September 17, 2014

Brazil's 13th licensing round will reinforce global interest in the country's burgeoning oil sector, the chief of national hydrocarbons regulator ANP told BNamericas.

The government announced on Monday that onshore and offshore blocks from the so-called Eastern Margin would be auctioned in the first half of 2015.

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The round will be Brazil's fourth offering of oil and gas blocks in two years, a period which follows a five-year hiatus for new licenses.

"This is currently a very good time for Brazil's oil and gas industry," ANP secretary-general Magda Chambriard said on the sidelines of Rio Oil & Gas trade event.

"We are developing this industry with investments of about US$50bn a year. We are attracting the attention of all companies, whether they be exploration and production companies or suppliers all over the world."

Chambriard said Brazil's regulatory framework guaranteed the security of contracts signed by private and state oil firms.

"The rules have not changed since ANP was created [in 1997]," she said. "We have concession contracts in 98% of Brazil's sedimentary area and we took an exception for pre-salt. That is 2% of Brazil's sedimentary area.

"Even in this area, in which the government decided to have a production-sharing regime, we promoted full respect for contracts already signed. Up until now we haven't changed a single rule."

BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.