Brazil prepares for a big win
The Transfer of Rights Surplus Bidding Round promises to attract a bevy of international players and generate enormous rewards for the government
Brazil has significantly liberalised its upstream sector and established a far more investor-friendly business climate since the Lava Jato-led corruption investigation sparked regime change. Brazil held six bidding rounds during 2017-18 alone, including five that focused on the prolific pre-salt region. These six auctions resulted in the sale of 72 blocks and achieved $7.5bn in signature bonuses. The Brazilian regulator, the National Agency of Petroleum, Natural Gas and Biofuels (ANP), estimates the combined auctions added 2.5mn bl/d to peak oil production and $112bn in new investments across the country. The government has scheduled a further three auctions to be held before year-end. The T
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
