Brazil approves the first oil and gas field auction in the right transfer area

Recently, with the approval of the special Bidding Committee of Petrobras, 14 oil companies passed the prequalification and entered the bidding list of remaining oil and gas fields in the "right transfer area", including Petrobras and 13 large international oil companies. There are 6 independent oil companies in the list, including BP, Chevron, shell, total, ExxonMobil and wintershire, a wholly-owned subsidiary of BASF in Germany, 7 national oil companies, including Petrobras, PetroChina, CNOOC, Colombia national oil company, Statoil Norway, Petronas Malaysia and Qatar Oil companies. In addition, the Brazilian company (PB), a joint venture between SINOPEC and Portuguese oil company, is also on the list. Residual oil auction in the "right transfer area" of Santos basin, Brazil, is different from the conventional sub salt oil and gas block auction. Petrobras has carried out exploration operations in the area and announced the commercialization of the area. There is no exploration risk in the oil and gas fields auctioned, but the successful bidder is required to pay Petrobras the initial exploration cost. The four oil and gas fields in this auction are atapu, Buzios, Itapu and sepia. The remarkable bukiyas oil field was put into production last year. In July this year, the daily oil and gas production reached 360500 barrels of oil equivalent, ranking the second largest subsea oil and gas field in Brazil.

The "right transfer area" of Santos basin is an oil and gas resource area in which Petrobras is allowed to exploit 5 billion barrels of oil equivalent in the non contract area by agreement in 2010. Through independent exploration, Petrobras has found 10 undersalt oil and gas fields in the area. According to the data released by Petrobras, the area has 47 billion barrels of commercial oil resources, 9.3 billion barrels of oil equivalent natural gas and an estimated recoverable reserves of up to 15 billion barrels. In order to promote the development of oil and gas in the "right transfer area", the Brazilian government decided to auction the remaining resources. After more than one year's demonstration, the National Energy Commission and Petrobras determined the auction rules of the remaining resources in the right transfer area, the auction time of the first four oil and gas fields, as well as the estimation and compensation rules of compensation, and postponed the first auction scheduled to be held on October 28 to November 6. It is understood that the auction competition is very fierce, and the signing fee determined by the government is low at $26 billion, and the auction result is expected to be higher.