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Brazil finally parted with the monopoly on exploration of the subsalt zone

Brazil finally parted with the monopoly on the development of its strategic oil assets pre-salt deposits on the Atlantic shelf.

13.May.17 11:12 AM
By Christina Orlina


Brazil finally parted with the monopoly on exploration of the subsalt zone
Now the company Petrobras has only the right to declare its interest in the development of the field within 30 days after the publication of the list of suggested blocks.

If Petrobras does not, then the block will be auctioned on General grounds, and any foreign oil company can buy a right on its development. In this situation, the company will become ordinary by the bidder and will enter into consortia with other participants.

However, after the Brazilian Parliament was opened to foreign oil companies access to the shelf area, international oil companies started up and overtaking each other, rushed to buy up sections of the pre-salt area.

Global oil and gas lined up to get the right to develop these deposits. As the productivity of the subsalt deposits in the is very impressive: in some wells produce 40-50 thousand barrels per day.

According to forecasts, by 2020 about 65% of oil production of Brazil will ensure that such deposits of hydrocarbons. In these layers, according to the oil exploration is up to 11.6 billion barrels of recoverable reserves.

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