Regulatory News
November 07
On Wednesday (November 6), Brazil hosted the bid round for oil exploration blocks with the largest collection ever recorded in the world: R$69.96 billion (US$17.23 billion). The record value was from the auction held by the National Petroleum Agency (ANP) for two pre-salt areas. However, the result frustrated the expectation of the Brazilian government because there was no interest for two other blocks that, if they had been auctioned, it would have raised the total to R$106.5 billion (US$26.17 billion).

Petrobras was the only company that submitted proposals. In Buzios, the largest area, the company has a 90% stake in a partnership with two Chinese oil companies, CNODC and CNOOC. Each of these two companies has a 5% stake. The other block, Itapu, will be explored 100% by the Brazilian state-run company.
November 06
Australia's National Offshore Oil Safety and Environment Management Authority (NOPSEMA) has recommended that Norwegian company Equinor suspend the preparation of the proposed environmental plan for oil exploration in the Great Barrier Reef region. After the company has submitted additional information about the project, the agency said it will complete an evaluation by the second half of November.

According to NOPSEMA, the analysis time is due to the complexity of the assessment and meeting a 2009 regulation on marine greenhouse gas and oil prospecting.
September 30
Scheduled for October 10, the 16th Bidding Round of the National Petroleum Agency (ANP) already has 17 companies registered to compete for 36 exploration blocks in five sea basins. Of the total companies interested in participating in the auction, 15 are of foreign origin. The only Brazilian companies are Petrobras and Enauta.

All companies have fulfilled the requirements set out in the notice and may participate in the round by submitting individual or associated proposals in consortia.

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