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OTC: Brazil Energy Reforms Yield Big Lease Sales and Questions

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Brazil launched a new effort at the Offshore Technology Conference to woo international investors under its reformed energy regulation system. But this new engine for exploration and production growth is still lacking some key parts.

On the plus side, there has been an array of changes opening up the oil and gas business to international oil companies. A series of 10 bid rounds over the next 3 years have the potential to add 2 million B/D of production on top of past finds that are expected to double the country’s production over the next decade.

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