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Brazil Plans Oil Auctions for Mature Blocks Within a Year

Feb. 22 (Bloomberg) -- The Brazilian government is planning a special bidding round for mature oil blocks within a year to help small companies and boost output, the Energy Ministry said.

President Dilma Rousseff’s administration is still studying when to start the auction to avoid conflict with a bidding round for shale gas, to happen in December, the ministry said in an e-mail.

“We are selecting the areas that would be of interest to that segment of companies,” the ministry said. “This can help keep up production in mature blocks and help in regional development.”

To contact the reporter on this story: Mario Sergio Lima in Brasilia Newsroom at mlima11@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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