Signing bonus for Brazil’s pre-salt oil auction set at $26.9 billion: economy minister

Brazil’s government will require a signing bonus of 106 billion reais ($26.9 billion) in an auction of exceeding oil from the pre-salt fields scheduled for Oct 28, Economy Minister Paulo Guedes said on Wednesday.

Companies bidding would also have to compensate state-run oil company Petrobras for investments that Petrobras already made in the blocs. The auction comes after the settlement of a long-running dispute between Petrobras and the Brazilian government about one of the world’s most promising offshore oil areas.

Source: Reuters

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.