Regulatory News

The National Petroleum Agency (ANP) estimates a revenue of R$3.7 billion ($1.87 billion) in the 11th round of bidding for oil exploration, scheduled for May. The calculation was made by the director of the regulator, Magda Chambriard, during a public hearing on the auction, which will offer 289 blocks.

The participation of 172 blocks is already confirmed for the round, and another 117 areas may be included, depending on the authorization of the National Energy Policy (CNPE). The most promising region, according to the director of the NPA, is known as the west bank which stretches from the states of Rio Grande do Norte to Amapá, and has geological characteristics similar to those of the west coast of Africa.

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