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15

Brazil To Auction Oilfields For the 10tn Time

Brazil will sell oil fields, except for the newly discovered pre-salt areas

Brazil will sell oil fields, except for the newly discovered pre-salt areas, Brazil's National Agency of Petroleum, Natural Gas and Biofuels said Thursday.

The oil fields for sale are those which had been suspended by a court dispute, Minister of Mines and Energy Edison Lobao said.

In the ninth round of auctions of oil fields taking place last year, participant companies protested against the exclusion of the pre-salt areas.

But according to the minister, the 10th round of auctions of oil fields may be held in this year under the same conditions.

The Brazilian government was working on the rules of exploitation which was aimed to have all states in the country benefit from revenues coming from exploiting natural resources, said Lobao.