ANP encourages Brazilian companies to bid for oilfields

Oct 01, 1999 02:00 AM

The Brazilian national oil agency ANP will encourage national companies to bid for the 21-25 new oilfields that will be auctioned by May, 2000. ANP considers providing benefits for the groups teamed by Brazilian companies. ANP's goal is to stimulate the creation of national oil companies now Petrobras' monopoly is over.
The agency signed 11 contracts with the companies that won the 12 oilfields auctioned previously - Petrobras, Agip, Amerada Hess, British Petroleum, Esso, Texaco, Unocal, British Borneo, Kerr McGee, Shell and YPF.

At present Brazil produces 1.1 mm bpd and imports 600,000 ones - its consumption totals therefore 1.7 mm bpd. The country is to produce 2 mm bpd by 2005.

Source: Sabi via Newspage
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