LatinNews Daily - 14 April 2022

In brief: Brazil holds third permanent offer auction for oil exploration

* Brazil’s Agência Nacional de Petróleo, Gás Natural, e Biocombustíveis (ANP) has hailed its latest auction for the exploration of oil blocks, part of its permanent offer initiative, as a success. A total of 59 exploration blocks were auctioned across six states, generating R$422m (US$90m) in signing bonuses, with the ANP expecting investments of at least R$406m in the exploration phase of the contracts alone. A total 13 registered companies acquired the blocks, including a new entrant, Espírito Santo-based CE Engenharia. A consortium formed by Shell Brasil and Colombia’s Ecopetrol secured six blocks in the coveted Santos basin off the coast of São Paulo state, with the other two blocks in the Santos basin going to Total Energies. The ANP’s director-general, Rodolfo Saboia, said that “the result of today’s auction exceeded our best expectations”.

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