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Brazil says 17 firms registered to bid for pre-salt oil exploration

A total of 17 companies have registered to take part in two rounds of bidding for licenses to explore pre-salt oil areas in Brazil, Oil and Gas Secretary Marcio Felix said on Thursday.

The auctions next month include some of the most promising oil blocks in the world. Pre-salt oil, referring to reserves found beneath a deep layer of undersea salt, has been said to be of high quality and commercial value.

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