Brazil to Overhaul Rules for Subsalt Auctions

January 20, 2020

World Energy Reports LLC.
AdobeStock_212284685.jpeg

Brazil's government is considering an overhaul in the rules for auctions of subsalt oilfields, a senior official told newspaper Valor Economico.

Special secretary to the Economy Ministry Waldery Rodrigues told the newspaper the government could reduce the signing bonuses for two subsalt areas - Sepia and Atapu - that did not receive bids in the last auction.

Rodrigues said another option could be to reduce the percentage of oil that the government will keep - known as 'profit oil'.

Another change could be scrapping the preference given to state-controlled oil company Petrobras in future auctions, in order to make oilfields more attractive to private investors.

Petrobras and the Economy Ministry did not immediately reply to requests for comment on the report.

Late last year, Brazil carried out a massive oil auction that failed to secure much interest, surprising officials.

Rodrigues added that the government wants to carry out the auction of the two oilfields this year, but that it is a "tight calendar."


(Reporting by Marcelo Rochabrun, editing by Louise Heavens)

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
  • Online database -- The online database is updated every day – with information direct from primary sources. In the database are details for 240 planned projects, 370 installations in service, 70+ floaters on order and 20+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request a Free Sample Report