Result of the 12th Bidding Round of ANP

Source: www.gulfoilandgas.com 11/28/2013, Location: South America

Petrobras has acquired, alone or in partnership, 49 blocks, out of the 50 to which the company presented offers, in the 12th Bidding Round held by the Brazilian National Petroleum, Natural Gas an Biofuels Agency (ANP). Among the blocks acquired, 22 were in partnership, and 16 of them will be operated by Petrobras and 6 by partners. The value of signature bonus to be paid by Petrobras is R$ 120 million, in addition to R$ 23 million to be paid by partners. The sum of these amounts, which reaches approximately R$ 143 million, corresponds to 87% of the total bonus to be collected in the round.

In addition to the signature bonus, the Minimum Exploratory Program (MEP) to be applied on the block, expressed in units of work (UWs), and the percentage of local content in the exploration and production phases were also taken into account as judgment criteria in the bidding.

The blocks offered in the 12th Bidding Round are located in new exploratory frontiers and in mature basins. The strategy adopted by Petrobras in the bidding is aligned with the goal of the company to increase its reserves and production of natural gas in the vicinity of existing production facilities, by expanding the knowledge on Brazilian sedimentary basins and diversifying its exploration investment. The participation of Petrobras in consortiums is in line with the objective of strengthening partnerships with national and foreign companies in order to foster integration of knowledge and technologies used in the exploration and production onshore.

Among the new frontier basins, located in areas with little geologic information or technological barriers to be overcome, Petrobras has invested primarily in Parana and Acre-Madre de Dios basins, seeking to identify new producing provinces with a focus on natural gas. In these basins, the Company has acquired 10 out of 11 blocks in which the Company submitted a proposal.

In mature basins, Petrobras purchased all 39 blocks in which it submitted a proposal. The company made offers to both basins of Sergipe-Alagoas and Reconcavo, in blocks near to production areas that can have synergies with the existing infrastructure.

The incorporation of these new areas is aligned with exploration investments envisaged in the Business and Management Plan 2013-2017 and Petrobras commitment to continue investing in exploration in Brazil ensuring the recovery of its portfolio, benefiting from the existing synergies and providing the volumes of oil and natural gas necessary for the sustainability of its production curve.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...

Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.