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Brazil to Offer Oil Blocks Where Petrobras Is Fighting to Drill

Bloomberg · last updated

Brazil’s oil regulator is set to grant exploration rights in a promising offshore region where state-controlled oil producer Petrobras has faced a years-long dispute with environmental authorities to start drilling.

An auction taking place June 17 will include areas in five sedimentary basins, including the Potiguar and the Foz do Amazonas, in deepwater near the equator, regulator ANP confirmed Monday. Both areas are in the wider region known as the Equatorial Margin, where the oil industry sees the best chances for Brazil to replenish oil reserves that otherwise will start declining in the 2030s.

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