The decision to opt for a rebid for the Libra development was approved by the operating committee last week, and new bid documents are due to be issued to participants within two weeks.

Upstream reports in this week's newspaper that a rebidding process was likely to be launched.

Petrobras has taken the same steps for the Sepia development, located in another area of the Santos basin and covered by a transfer of rights agreement in favour of the state-controlled company.

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