October 15, 2019 / 2:26 PM / a month ago

Brazil oil regulator ANP okays 4 more bidders for 6th pre-salt oil auction round

RIO DE JANEIRO, Oct 15 (Reuters) - Four more oil companies were approved to participate in the sixth pre-salt oil bidding round, bringing the total to 17 companies allowed to bid in the auction scheduled for Nov. 7, Brazil’s oil regulator ANP said on Tuesday.

Norwegian Equinor ASA, Brazilian Enauta Participacoes SA, Compania Espanola de Petroleos S.A.U. and Petroleos de Portugal Petrogal SA, controlled by Galp Energia SGPS SA, are joining the bidders.

“The total number of bidders is a record for auctions in the production sharing regime, surpassing the 16 qualified for the fourth production sharing round held last year,” ANP said in a statement.

The sixth pre-salt oil bidding round involves production areas known as Aram, Bumerangue, Cruzeiro do Sul, Sudoeste de Sagitario and Norte de Brava.

The minimum signing bonuses owed to the government in that round come to 7.85 billion reais ($1.89 billion), though it is possible not all areas will fetch bidders.

$1 = 4.1508 reais Reporting by Marta Nogueira; Writing by Gabriela Mello and David Gregorio

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