Oil majors set to compete for pre-salt acreage in Brazil

Brazil’s oil and gas agency ANP has defined the criteria for winning blocks in the 2nd and 3rd Pre-Salt Bidding Rounds set to be held on Friday in Rio de Janeiro.

The two rounds will offer blocks for exploration and production of oil and natural gas, on a production sharing basis.

According to the ANP, the winning bid will be the one that offers the largest portion of profit oil to the state from a settled minimum percentage.

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