Brazil to auction blocks holding nearly 50 billion barrels in place

摘要

Brazil’s 15th bid round and fourth subsalt productionsharingrnauction is expected to offer exploration andrnproduction blocks that hold nearly 50 billion barrels ofrncrude in place, according to the National PetroleumrnAgency (ANP). “The areas available in these twornauctions are very attractive, with the potential to holdrngigantic oil discoveries in the country’s two primaryrnplays: the upper cretaceous and subsalt carbonates,”rnsaid Eliane Petersohn, the ANP’s general manager forrndefinition of blocks.rnThe ANP estimated that recoverable reserves fromrnthe two sales, which will need to be confirmed viarnexploration drilling and will also depend on reservoirrnbehavior, could be about 15 billion barrels whenrnconsidering an industry standard recovery rate of aboutrn30%, Petersohn said.rnBrazil will put 70 blocks up for sale during the 15th bidrnround scheduled for March 29, including 49 offshore and 21rnonshore. The country’s fourth subsalt production-sharingrnauction, which will be held June 7, will feature five blocks.rnThe auctions continue Brazil’s grand reopening of its oilrnpatch after the government implemented a series ofrnreforms aimed at getting activity in the downtroddenrnsector moving again in the wake of the collapse in oilrnprices and a corruption scandal at state oil and gasrncompany Petrobras.