Brazil Government expects that 50% of the pre-salt oil output
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Brazilian Energy Minister Edison Lobao said companies seeking to help develop offshore oil fields will probably offer to let the government keep a least 50 percent of the production.
Under the so-called shared-production model being considered by
Congress, oil producers bidding in auctions for a stake in the fields
will have to offer a percentage of output to the government, Lobao told
reporters today in Sao Paulo.“Interest from private companies in the pre-salt oil fields has been
huge,” he said. “We think we are going to have at least 50 percent, but
that share might go up to 60 or 70 percent.”Brazil’s Congress is debating new rules for the so-called pre-salt
area, which gets its name from the mile-thick layer of salt that traps
billions of barrels of crude oil under the Atlantic seabed. The
government is seeking to make state- controlled Petroleo Brasileiro SA
the sole operator of the region, which includes the Tupi field, the
biggest oil discovery in the Americas since 1976.Source: Bloomberg
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