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According to the Minister of Mines and Energy, the government will offer again in November this year the oil fields Sépia and Atapu, in the pre-salt of the Santos Basin
The Minister of Mines and Energy, Bento Albuquerque, stated that the government will again provide the oil and gas blocks of Sépia and Atapu from the pre-salt, in November this year, in exchange for the transfer of remaining rights in a new bidding round. Previously, the auction was scheduled to take place in June.
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Petrobras signed a rights transfer contract with the government in 2010 and had the right to produce up to 5 billion barrels of oil in a certain area. However, the values in the region exceed that and thus the alliance seeks new auctions.
Bento Albuquerque stated in a video interview broadcast by MegaWhat that “We worked all year in 2020 on the recommendations of the Federal Court of Accounts (for the auction of Sépia and Atapu)… fulfilling the schedule we established.”
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Previously, the government auctioned four rights transfers in 2019, but the Sépia and Atapu areas received no bids.
The minister also estimated that the lack of participation in the auction will cost Brazil an “opportunity cost” of R$ 18 billion per year, an investment that the country will not receive.
“We cannot miss this opportunity. Just in these two areas, investments of R$ 220 billion are anticipated, hence the importance of making this auction happen, and we will make it happen in 2021,” he concluded.
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