Brazil to hold annual round for small companies

Brazil round: ANP new programme to get wider range of companies involved in exploration

Brazil’s oil regulator said it will launch a set of annual bid rounds for mature and marginal fields aimed at attracting offers from small and mid-sized companies.

The ANP did not specify what specific acreage might be included in the cycle, to start in 2014, but did say areas with unconventional potential would be excluded.

Brazil’s Mines and Energy Ministry will also form a committee with ANP representation to “increase participation of small and midsize businesses in exploration and production activities in the country.”

The revitalisation of such onshore fields have historically drawn little interest as Petrobras and global supermajors are spending billions to exploit Brazil’s enormous offshore bounty.

A law passed in 2010 stipulated that authorities work to get smaller…

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