Government Confirms Petrobras for Pre-salt Auction that May Yield US$ 2 billion

State government exercised preemptive rights over the areas

After cutting by 70%, on average, the value of the bonuses of the next pre-salt auction, scheduled for December, the government announced on Monday (3) that Petrobras will have preemptive rights to operate the areas that will be tendered. This is in the case that there will be an offer for the blocks.

FILE PHOTO: A worker checks the fuel volumes on a train wagon near a tank of Brazil's state-run Petrobras oil company in Brasilia, Brazil, February 19, 2021. REUTERS/Ueslei Marcelino/File Photo - REUTERS

At the auction, the first with opportunities in the pre-salt after the start of the pandemic, the government will offer two areas that did not attract interested parties in an event that became known as the pre-salt mega auction in 2019.

If Petrobras' offers are confirmed, the government will guarantee an extra collection of R$ 11.1 billion (US$ 2 billion) in 2021. The state-owned company, however, is not obliged to make bids, even having exercised preemptive rights provided for by law.

Translated by Kiratiana Freelon

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