Brazil’s government on Friday sold today six out of eight oil and gas development areas in the pre-salt region offered at auctions. A small area in the Northern Campos Basin was not sold and a large area in the Santos Basin also went without bidders. The six areas sold were all auctioned to consortiums of two to three companies. State-run oil Petrobras was present in three of the winning bids. Shell was part of three winning bids. BP Energy was present in two. Exxon-Mobil, Statoil, Petrogal, Repsol-Sinopec, Total, CNOOC, QPI and CNODC were present in one each.
The government offered offshore oil and gas development areas in the Campos Basin off the coast of Rio de Janeiro and the Santos Basin off the coast of São Paulo. Government-set payments for the concessions on offer totaled R$7.75 billion. The six areas sold at auction brought in a total of R$6.15 billion. Winning bidders came away with the concession rights for each area by offering the highest percentage of oil production to the federal government. Winning bidders pledged as little as 11% to the government and as much as 80%. A total of 16 companies qualified for the auctions, from Brazil and ten other countries. Government studies estimate the eight areas could demand investments of as much as R$120 billion.
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