Brazil oil regulator announces details on October deepwater oil auction

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(Reuters) Brazil’s oil regulator ANP on Monday announced details of the 16th-round auction of oil areas under the concession regime, stipulating a higher bonus amount for the CM-541 block in the Campos Basin, which surpasses 1 billion reais ($259 million).

According to an ANP statement, the round must take place on Oct. 10, with the signing of the agreements in February 2020. There will be public consultation of the rules until April 9 and public hearing the next day in Rio de Janeiro. Registration for the tender ends on Aug. 20.

The ANP added that a total of 29,300 square kilometers will be offered in the round, which will have 36 different blocks from the Campos, Jacuipe, Camamu-Almada, Pernambuco-Paraiba and Santos basins.

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