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Libra | Eurasian Consortium Prevails

Petrobras_Hardhat

Source :Estado de S. Paulo

The consortium composed of Petrobras, Shell, Total, CNPC and CNOOC has won the Libra pre-salt oil auction held today in Rio de Janeiro.

The bid was the only proposal presented. The consortium has the following structure: Petrobras (10%), Shell (20%), Total (20%), CNPC (10%), and CNOOC (10%). Furthermore, Petrobras has rights to the other 30%, in accordance with the preset conditions.

The winning consortium offered 41.65% of the oil produced over and above the minimum .

The Libra auction is the first in a series proving for the exploration of oil and gas in the pre-salt layer using a revenue-sharing scheme (in which the federal union keeps part of the oil extracted by the winning companies.) Libra is the largest oil reserve ever discovered in Brazil.