Regulatory News

If all the blocks offered in the ANP 11th Bid Round being held on Tuesday and Wednesday (May 14 and 15), are auctioned at the minimum price, the revenue the government would reach is US$627 million (US$312 million). The regulatory agency’s expectation is that it will be an intense dispute, especially for the 72 deepwater blocks in the Brazilian equatorial margin which stretches out over the coastal states of Amapá, Pará, Maranhão, Piauí, Ceará and Rio Grande do Norte.

In addition to Petrobras, the list of companies that qualified for the auction includes ‘major’ companies like Shell, Chevron, Exxon, BP as well as government-run company like SINOPEC (China) and Petronas (Malaysia).

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