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Government to raise R$ 7 billion with new round of oil and gas auctions

Investments

This and other auctions should raise a total R$ 18 billion in government revenue this year
published: May 11, 2018 12:00 AM last modified: May 14, 2018 11:14 AM

Alaor Filho/ Mirá Imagem

The federal government expects to obtain R$ 7 billion in revenue with the 5th Round of Oil and Gas Auctions under the production sharing system, scheduled to take place on 28 September. The bill was announced by the Ministry of Mines and Energy on Friday (11 May).

This round, which will be held by the National Petroleum, Natural Gas and Biofuels Agency (ANP), will offer concession in Saturno, Titã, Pau-Brasil and Southwest Tartaruga Verde blocks, all located within the Campos and Santos basins of the Pre-Salt Polygon.

The ministry also reported that Petrobras has a deadline of up to 30 days, starting this Friday (11 May), to indicate whether it wishes to exercise its pre-emptive right to be an operator in any of those areas.

Revenue raising in 2018

With this R$ 7 billion added to the R$ 8 billion obtained from the 15th Round of Auctions held in March 2018 and the R$ 3.2 billion forecast for the Production Sharing Round of the Pre-salt Area (scheduled for 7 June), the government is working with a revenue estimate of R$ 18 billion from oil and gas auctions for this year.