Reported in a press release by the Embassy of Brazil in London, bids will start for the ability to explore for gas and oil in Brazil. A presentation will be hosted by The Embassy of Brazil in London and the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) at the end of September. Bids will not happen until the end of November during the Brazil Round 9. It will offer 98,000 square kilometers in proven, unexplored, and high potential sectors.
Gas and oil have proven critical for Brazil's economy. In the last ten years, gas and oil have tripled in the country's GDP from 3% to 10%. Reports on last year has stated that the country shipped 12.2 billion barrels of oil in 2006. The new expansion of exploration and potential drilling will only increase the flow of not only oil, but for money as well.
Information found at Embassy of Brazil in London
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