Brazil audit court gives green light for pre-salt oil mega auction

BRASILIA, Oct 9 (Reuters) – Brazil’s Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a “transfer of rights” (TOR) area off the country’s southeastern coast.

The government expects to raise 106 billion reais ($25.8 billion) from the auction scheduled for Nov. 6, which is expected to attract a range of major global oil companies to tap one of the world’s most promising conventional oil plays.

 

By Gabriel Ponte via Reuters

 

Read full article here

Share This

Chamber Updates Stay connected with Chamber activities