Auctions promise to heat up the Brazilian economy

The largest oil auction season ever made in Brazil Starts this week. Disputes can attract oil giants that have An ability to exploit reserves on the Brazilian coast larger than the Norway reserves. Bids should generate R $237 billion to the government Federal and Petrobras – sum of the values provided for in the notices and estimates of Oil – which will heat the country's economy.

About R $120 billion should be paid to the state for investments made in areas that go to auction, according to the Brazilian Institute of Petroleum, Natural Gas and Biofuels (IBP), and the R $117 billion will come from the signing bonus-rate, fixed in the notices of disputes , which the winning companies pay to participate.

Exxon Mobil, Chevron, BP, Royal Dutch Shell and Petrobras are in dispute for blocks that will be offered in three auctions within just four weeks. The most anticipated auction is scheduled for the beginning of November, which will offer the surplus of the onerous transfer of the pre-salt, estimated at up to 15 billion barrels of oil.

The first auction, which is scheduled for today (10), will be the 16th round of bids for exploration in areas of the Campos and Santos basins and follows the concession regime, established before the discoveries of the pre-salt.

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