China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development are set to participate in the new pre-salt oil bid round in Brazil.
The Brazilian National Petroleum Agency (ANP) has set a date for 16 December to receive proposals in the country’s first auction featuring pre-salt acreage under the so-called permanent offer initiative.
In a meeting held on 16 August, the regulator approved the calendar for the upcoming bid round.
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According to the proposed timeline, companies must submit all documents and pay a participation fee by 24 August.
There are 11 areas potentially available for bidding in the Campos and Santos basins – Agata, Agua Marinha, Bumerangue, Cruzeiro do Sul, Esmeralda, Itaimbezinho, Jade, North of Brava, Southwest of Sagitario, Tupinamba and Turmalina.
Brazilian state-controlled company Petrobras has already exercised preferential bidding rights to secure operating stakes, under production sharing contracts (PSC), for Agua Marinha and North of Brava, with a minimum of 30 per cent equity.
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Other companies can submit new expressions of interest for the remaining nine areas by 10 October.
The ANP will disclose the tracts that will be available for bidding at the auction on 25 October.
Besides Petrobras, seven other operators have been qualified so far to participate in the round, including Chevron, BP, Shell, TotalEnergies, Petronas, China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development Company.
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