Brazil moving on new oil round

Brazil auction: To include offerings in nine basins

PlanetObserver

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By Kathrine Schmidt and news reports

 10 January 2013 17:59 GMT

Brazil will move ahead with a long-awaited round of oil concession auctions in May following the resolution of a royalty dispute, authorities said Thursday.

The country's National Hydrocarbons Agency (ANP) said President Dilma Rousseff had signed off on the plan to hold the auctions in May or sooner if practicable.

If plans proceed as planned, the sale would be a huge boost for oil and gas producers who have effectively been cut off from acquiring new acreage from the government in the oil-rich nation. The last sale of its type was held in 2008.

The round will comprise 172 blocks, half onshore and half offshore, in 17 areas and nine sedimentary basins, the ANP said. Two were…

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