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12/01/2017 - 16:21hs

Oil rounds could generate USD 1.41 billion

The minister of Mines and Energy, Fernando Coelho Filho, said that bidding rounds for the concession of onshore, pre-salt and post-salt blocks should take place this year.

Rio de Janeiro – The minister of Mines and Energy, Fernando Coelho Filho, said this Thursday (12) that the government is expecting to earn between BRL 3.5 billion (USD 1.10 billion) to BRL 4.5 billion (USD 1.41 billion) with the 14th bidding rounds of oil and natural gas blocks and the second bidding rounds in the pre-salt blocks, under the production sharing agreement.

“For this year, three rounds were announced: the onshore round, the second round of the pre-salt, and the post-salt round,” said the minister. “This estimative [of earnings] is for the minimum granting, since someone could offer more,” he added. He believes the announcements to be published in the Official Federal Gazette until the end of this month.

The minister said that the government is working for the licensing rounds of the onshore areas to occur in May and for the second round of the pre-salt to take place in the first six months of 2017. The post-salt areas should be up for the bidding rounds in September.

*Translated by Sérgio Kakitani

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