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PETROBRAS CONSORTIUM REPRESENTATIVE PLACE BID FOR OIL LISCENSE DURING AUCTION, 2000-06-07 (photo)

IMAGE number
REU7870554
Image title
PETROBRAS CONSORTIUM REPRESENTATIVE PLACE BID FOR OIL LISCENSE DURING AUCTION, 2000-06-07 (photo)
Auto-translated text View Original Source
Medium
photograph
Date
2000 AD (C20th AD)
Shooting Date
2000-06-07
Image description

A representative of a consortium led by Brazil's state-owned oil company Petrobras prepares to place a bid for the BM-S-10 block of oil exploration liscenses, in Rio de Janeiro June 7. The consortium, which also includes Chevron and BG International, has the winning bid of $56.66 million for exploration and production of the deepwater field located off the central coastline. Brazil put 23 blocks up for sale at an auction that has lured 44 interested bidders for the nation's potentially oil-rich real estate in one of the major events in the global oil scene in 2000. Brazil produces 1.24 million barrels-per-day and has proven oil reserves of 7 billion barrels. GN/MMR

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REUTERS / Bridgeman Images
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