ANP Set Deadline For Petrobras

Brazil's hydrocarbons regulator ANP plans to set a deadline for state oil company Petrobras to return mature fields, because ANP intends to offer the fields to smaller companies.

ANP?s representative said that "Petrobras cannot hold on to the mature fields if it is not going to explore them," she said.

Petrobras controls over 200 mature fields in which it invests very little.
The ANP has licensed 24 mature fields in the six license auctions held annually since 1998. Because large companies were more interested in larger finds, they did not invest to revamp the mature fields, according to the administration?s opinion.