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LatinNews Regional Monitor: Brazil & Southern Cone - 11 September 2019

In brief: Brazil’s oil & gas regulator launches new bidding process

* Brazil’s national oil & gas regulatory agency (ANP) has completed the first round of a new kind of public bid, known as the permanent offer, which awards concessions for exploiting blocks and oil fields with marginal accumulations with no time limit. Concessions for 33 blocks and 12 fields were auctioned off to ten different companies for a combined R$22.3m (US$5.46m), and are expected to bring in R$320.3m (US$78.5m) in investment. The interim secretary for oil, gas and biofuels in the ministry of mines & energy (MME), Renata Isfer, celebrated the positive result of the tender, noting that it is part of efforts to stimulate onshore production.

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