Brazil has announced the permanent offering of 91 oil blocks across key basins, aiming to attract significant investment and bolster energy security
. The Ministry of Mines and Energy revealed that the next auction cycle, slated for 2025, could bring in an estimated 2.4 billion reais $394 million in signing bonuses. The blocks are spread across strategic regions 39 in Minas Gerais’ São Francisco Basin, 41 and a marginal accumulation field in the Potiguar Basin, and 11 in the coveted pre-salt area. Companies can express interest in these blocks under the permanent offer model, triggering bidding opportunities.
“This increase in production is essential to guarantee our energy security,” he said, alluding to the importance of staying ahead of the curve. This move is part of Brazil’s push to secure its spot among the world’s top oil producers. Petrobras, the state-controlled oil giant, is already ramping up efforts in the pre-salt region with plans to add 11 platforms by 2027. However, not everyone is thrilled—environmental concerns are bubbling over Petrobras’ ambitions to drill near the Amazon River.
Energy Security Exploration Offshore Oil Production Auction
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Little girl's one word verdict as new Alder Hey cinema opens its doorsMediCinema had opened its doors today and is the first cinema in a standalone paediatric hospital and the first in the North West.
Read more »
Huge queues as Greater Manchester's newest Primark throws open its doorsPrimark’s newly relocated Bolton store opens its doors in Market Place today
Read more »
First look: Matthew Fisher opens the doors to his first gallery in ManhattanJacob Gaines is a writer based in New York.
Read more »
Stanley & Co opens doors with historic Preston pub given a significant glow upStanley & Co opening night. Credit: Lee Clayton A pub in Preston has reopened to the public after being given a significant makeover in a bid to put its tro
Read more »
Pop-Up Club Opens Its Doors at Trinity Leeds for Christmas ShoppingThe Pop-Up Club, an exciting new shop, has recently opened its doors at Trinity Leeds, offering a variety of gifts and crafts for the upcoming holiday season. This marks the extension of the Pop-Up Club's success from other locations such as Manchester and Chelmsford.
Read more »
Pine Street Inn opens its doors to over 2,000 people for ThanksgivingThe meal has been in the works for days, with volunteers making sure Pine Street Inn can provide all the fixins for around 2,000 guests.
Read more »