1st auction under new regime in 2011.
The executive confirmed that the PA is preparing to conduct the first auction of the pre-salt area with the offer of Libra early next year. The documentation on the auction Libra is practically ready to be forwarded to the approval of the National Energy Policy (herewith) in November. But this is only possible, according to Lima, where the PT candidate, Rousseff, win the presidential elections in the first round. Thus, in November, Congress could pass new legislation establishing a system of sharing, allowing the execution of the auction in early 2011.
Machine translation from:
oglobo.globo.com
Libra, in the Santos Basin, sits near the offshore Franco field, which holds the reserves the government plans to use to buy the stock. Seismic data indicates that Libra may be larger than Franco, which has an estimated 4.5 billion barrels of recoverable oil, Magda Chambriard, an ANP director, said in May.
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