Brazil to auction 172 blocs for oil exploration

11 January 2013

The Brazilian government has approved holding the 11th auction to grant 172 oil and gas blocs in the country, Mines and Energy Minister Edison Lobão said on Thursday in Brasilia.

Half of the blocs are for exploration on land and the other half in the sea, said Lobão, adding that the auction should be held in May or even beforehand if the National Petroleum Agency deems there are conditions to move forward.

He specified that all 172 blocs are outside the pre-salt area and that two others were withdrawn because of “environmental questions”. (macauhub)