The Brazilian government has announced the inclusion of 393 blocks and 5 oil and natural gas fields in the Permanent Concession Offer system of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The system allows interested companies the opportunity to prepare studies and prepare bids to buy the areas for their exploring and extracting activities. The included land and sea areas are expected to collect concession contracts of about BRL3.7bn (US$600m) and are in the offshore basins of Santos (248 blocks) and Campos (17 blocks), and onshore basins of Recôncavo and Tucano (96 blocks and 5 marginal accumulation fields), Parnaíba (30 blocks), and the Tacutu basins (2 blocks).
The initiative is part of the Potencializa E&P Program, which seeks to improve the system of supply of areas for exploration and production of oil and gas in the country. Brazil has large energy resources, and its proven reserves of oil and condensates are estimated at 2 Gt and gas reserves at 406 bcm (end of 2023).
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