Brazil pre-salt licensing round: PBR, BP and Shell dominate The bids show the need of the supermajors (ex-Chevron) to obtain more resource, given a lack of exploration success in the last few years. Brazil raised $1.9B during the county’s second pre-salt bidding round; pre-salt production now accounts for ~50% of the nation’s total output, however has seen minimal exploration over the last 5 years. Petrobras, led the auction and secured 3 blocks as the operator;......
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