ANP SIGNS THE 16TH ROUND AND PERMANENT OFFER CONTRACTS AND EXPECTATION IS FOR INVESTMENTS OF R$ 1.8 BILLION

FEB 10, 2020

The National Petroleum Agency (ANP) will hold the signing ceremony for the 16th Bidding Round and the 1st Permanent Bidding Cycle next Friday (14). The event will take place at the their central office, in Rio de Janeiro, from 11 am and marks the beginning of expectations for new investments in the exploration and production segment in Brazil, which should exceed R$ 1.8 billion.

As a reminder, the auction for the 1st Permanent Offer Cycle took place on September 10 of last year. The public hearing ended with 33 blocks concluded, in addition to 12 areas with negotiated marginal accumulations. Thus, revenue from the sale of assets was R$ 22.3 million. The forecast for investments in these fields, according to ANP estimates, is around R $ 320 million.

The 16th Bidding Round, on the other hand, took place exactly one month later and ended with R$ 8.9 billion in subscription bonuses – the highest amount recorded in the country’s history under the concession regime. In all, 12 of the 36 offshore blocks offered were acquired. One of them is noteworthy – the C-M-541, in the Campos Basin, which was acquired for a bid of R$ 4.029 billion by a consortium formed by Total, Petronas and QPI. The expected investment in the blocks of the 16th Round is R$ 1.579 billion.

Source: PetroNoticias

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