Take two for Brazilian bidding round
The auctioning process for the Transfer of Rights fields has been streamlined, and hopes are high for a better showing at the end of the year
The Brazilian government has revised its guidelines for surplus oil volumes in the so-called Transfer of Rights process, part of a new push to auction acreage at the Sepia and Atapu fields in the Santos basin. The new sale could unlock up to BRL200bn ($40.27bn) in life-of-field investments across the two projects and has been rescheduled for December. Brazil hopes to attract a large number of interested parties after failing to offload two of the four fields during the first auction in November 2019. Learning lessons from the past auction has been crucial for the government, especially with energy transition ambitions starting to accelerate. Compensation rules were previously obscure and for
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive