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Brazil aims to raise 7.2 billion euros in oil and gas auctions by 2019

At the 6th Latin American Energy Economics Meeting, held in Rio de Janeiro on April 3, 2017, Paulo Pedrosa, Executive Secretary of the Ministry of Mines and Energy, declared that Brazilian government aims to raise 7.2 billion euros (24 billion Reais) with auctions to explore and produce Oil and Gas in the presalt exploration areas.

Those are preliminary numbers and can go even higher depending on the conditions in which the auctions are held. “Projections obviously includes more conservative premises, since we’ll start these auctions in a more consolidated scenario. The more consolidated it is, the better are the results” said Mr. Pedrosa. 

Minister affirmed that the country has being working alongside the organisations involved, in order to guarantee the atmosphere of trust. “Brazil wants and needs this investment flow. Especially in the Oil and Gas industry. We are aware that we need to be more competitive in order to bring more investments”. 

The Brazilian government also intends to auction the contract of some electrical companies. This auction may raise up to 3.6 billions euros.

Open Ocean supports Oil and Gas projects in Brazil and has an office in Rio de Janeiro. If you want to know more about how our innovative solution Metocean Analytics can help you develop your project, please contact us and ask for a demo. 

Source: Isto é