Market
Story
Brazil to Auction 91 Oil Blocks, Potentially Raising 2.4 Billion Reais and $394 Million in 2025
Nov 30, 2024, 02:30 PM
Brazil's Ministry of Mines and Energy announced plans to permanently offer 91 oil blocks for sale, which could generate 2.4 billion reais (approximately $394.11 million) in signing bonuses during the upcoming auction cycle. This initiative aims to enhance the country's energy security, with a target of reaching 5.3 million barrels per day by 2030. The auction is expected to take place in 2025, focusing on pre-salt opportunities that are pivotal for Brazil's oil production. Additionally, Petrobras has initiated a bidding process for vessels related to the Sergipe deepwater project, further underscoring the company's ongoing investments in expanding Brazil's oil and gas capabilities.
View original story
Similar markets
Yes • 50%
No • 50%
Project in North America • 25%
Project in Asia-Pacific • 25%
No major project announced • 25%
Project in Europe • 25%
No acquisitions • 25%
Acquisition of small assets • 25%
Acquisition of medium assets • 25%
Acquisition of large assets • 25%
Moderate increase in production • 25%
Decrease in production • 25%
No significant change • 25%
Significant increase in production • 25%
Continued role at Mumbai High only • 25%
Expanded role in other fields • 25%
Reduced role or exit • 25%
No further collaborations • 25%
140,000 to 160,000 barrels per day • 25%
120,000 to 140,000 barrels per day • 25%
Less than 120,000 barrels per day • 25%
More than 160,000 barrels per day • 25%
10% to 15% • 25%
Less than 5% • 25%
5% to 10% • 25%
More than 15% • 25%
Infrastructure development • 25%
Renewable energy projects • 25%
Gas production • 25%
Oil production • 25%
Reallocated • 25%
Not Utilized • 25%
Partially Utilized • 25%
Fully Utilized • 25%
