Brazilâs government aims to hold an oil and gas auction in the second half of this year for areas left over after it settles a disputed contract with state-controlled oil firm Petrobras, according to a senior official.The choice reserves, located in the offshore Santos basin, are part of the 'transfer-of-rights' area that the government passed to Petrobras at a price that is still in dispute. Since 2014, negotiations to resolve the dispute have been contentious, with both parties claiming to be owed billions of dollars.A resolution is finally in sight, Mining and Energy Minister Fernando Coelho Filho said at an event last week, adding that the government could reach a deal within 40 days to pay Petrobras.Click here for full Reuters articleSource: Reuters
Brazilâs government aims to hold an oil and gas auction in the second half of this year for areas left over after it settles a disputed contract with state-controlled oil firm Petrobras, according to a senior official.The choice reserves, located in the offshore Santos basin, are part of the 'transfer-of-rights' area that the government passed to Petrobras at a price that is still in dispute. 