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Brazil’s Anp estimates $425B bidding revenue

by Erika Green

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Brazilian regulator National Agency of Petroleum, Natural Gas and Biofuels (Anp) said last week it expects revenue of $425 billion from the 16th Exploratory Blocks Bidding Round.

The authority also expects $112 billion in investments, Kallanish Energy reports.

The bidding round is scheduled for Oct. 10, offering 36 blocks in five offshore sedimentary basins (Campos, Camamu-Almada, Jacuípe, Pernambuco-Paraíba and Santos), covering a total area of 11,300 square miles.

Block CM-541 in the Campos Basin has a minimum subscription bonus of $349 million. A total of four rounds are scheduled to be held this year.

“The amounts to be collected, added to the expected investments are unprecedented,” said Anp director Dirceu Amorelli, in a release.

“The gains in terms of production, hiring and job creation are equally important for the Brazilian State,” he added.

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