Brazil completes Round 3

Brazil's National Petroleum Agency Wednesday completed the second day of the country's third licensing round. The round made 53 blocks available, including 26 that were offered Wednesday. There were somewhat fewer bids for the blocks than on Tuesday, and the amounts were lower.


By the OGJ Online Staff

HOUSTON, June 20 -- Brazil's National Petroleum Agency Wednesday completed the second day of the country's third licensing round.

The round made available 53 blocks, including 26 that were offered Wednesday. There were somewhat fewer bids for the blocks, and the amounts were lower.

The highest bid of the sale was issued Tuesday by Phillips Petroleum, which offered 117.7 million reals ($48.7 million) for block BM-ES-11.

El Paso CGP Co. was the highest bidder Wednesday, offering 52.2 million reals for Block BM-S-13. It bid alone for the stake.

Repsol-YPF Brasil SA and partners Enterprise Oil PLC and Den Norske Stats Oljeselskap AS bid $24 million reals for block BM-S-19. That was the second highest bid Wednesday.

Twenty of the blocks offered in the sale received no bids at all.

ANP said 42 oil companies qualified to participate in the round (OGJ Online, June 19, 2001). The blocks offered were in 12 sedimentary basins: Santos, Campos, Espirito Santo, Jequitinhonha, Camamu-Almada, Sergipe-Alagoas, Parana, Reconcavo, Potiguar, Ceara, Barreirinhas and Para-Maranhao.

Some of the blocks are on land and some offshore.

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