Brazil's state oil giant led a consortium to place the sole and winning bid Monday in the first auction under a 2010 regulatory regime. The block is estimated to contain between 8 billion and 12 billion barrels of oil.
“It’s going to be to be a new experience for all the players," Cesar Palagi, asset manager for Petrobras' Walker Ridge assets in the US Gulf, told the Houston Shipping & Offshore Conference on Wednesday.
The
