Saturday, October 4, 2008

Brazil nixes 32 blocks from bidding round

Brazilian hydrocarbons regulator ANP has withdrawn 32 onshore blocks from the upcoming 10th licensing round due to technical and environmental restrictions.

The ANP withdrew 28 blocks in the Araripe and Pernambuco-Paraiba basins and four blocks in the Parana basin. The 10th oil bidding round will now offer 130 onshore blocks totaling 70,000 square kilometres in Parecis, Reconcavo, Potiguar, Parana, Amazonas, Sao Francisco and Sergipe-Alagoas. The ANP will host technical and environmental seminars as well as public hearing sessions concerning round 10 licensing in October. Last year, Brazil withdrew 41 sub-salt blocks from an auction of 312 oil blocks held in December after Petrobras revealed that the sub-salt Tupi discovery harboured reserves of between 5 billion and 8 billion barrels of oil.
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