Brazil To Auction Vast Offshore Oil Field In October

Law360, New York (May 23, 2013, 2:57 PM EDT) -- Brazil has moved up a planned auction for the vast Libra offshore pre-salt field, which could hold up to 15 billion barrels of recoverable oil, to October and will auction the field as "basically one giant block," the director of the country's National Petroleum Agency, known as ANP, said Thursday.

After Brazil's National Energy Policy Council announced the auction schedule in the country's Federal Register Thursday, ANP director Magda Chambriard told reporters that the country plans to package the vast majority of the Libra field into...
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