Oil companies from China to take part in auction in Brazil

7 April 2010

Sao Paulo, Brazil, 7 April – China’s oil companies are to take part in the first auction in Brazil of areas in the pre-salt layer, which has yet to be scheduled, and may take part in the 11th auction of traditional areas that may take place in 2011, according to the Brazilian press.

The director general of Brazil’s National Oil, Natural Gas and Biofuel Agency (ANP), Haroldo Lima, recently arrived from a nine-day visit to China, gave assurances that the Chinese state companies would take part in the agency’s next auctions and noted good prospects for other investments in Brazil, citing refineries as an example.

Lima went to China at the invitation of the director general of the Chinese General Energy Administration, Zhang Guobao, who attended the Brazil-China Conference for Investment Promotion, which was also attended by the financial director of Petrobras, Almir Barbassa.

Giving assurances that Chinese companies were interested in doing business in Brazil, Lima said he had made use of his visit to “explain the rules of the game, explain how things are going in the energy business in Brazil.”

The director general of Anp said, meanwhile, that the 11th auction of traditional areas would be very difficult, if not impossible, to carry out this year due to the presidential elections in the second half of the year and the delay in approval of the areas chosen by the agency. (macauhub)