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Energy & Natural Resources

May 14 2018
Godofredo Mendes Vianna 15th bid round boosts investments, while ANP softens local content rules

Brazil - Kincaid | Mendes Vianna Advogados

The National Petroleum Agency recently led the 15th bidding round in Rio de Janeiro, which reinforced international oil companies' (IOCs') interest in investing in Brazil. Eleven foreign and two national oil companies committed to paying approximately R8 billion in signature bonuses. The highest commitment was presented by the consortium between ExxonMobil, Petrobras and QPI. The IOCs have demonstrated their belief that the geological reserves in the Campos Basin are some of the most prolific on the planet.

Authors: Godofredo Mendes Vianna, Jose Vicente Duncan de Miranda
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