Brazilian gov't authorizes new bidding round in oil, gas

Brazil's Mines and Energy Minister Eduardo Braga announced on Thursday a new bidding round for oil and gas exploration areas.

The 13th Bidding Round will be launched on July 7 in a ceremony in Brasilia, with the participation of President Dilma Rousseff, the ministry said.

A total of 266 exploration blocks will be offered in the 13th Bidding Round, totaling an area of 125,024 square kilometers.

"Of all the blocks, 182 are located in the onshore basins of Amazonas, Parnaiba, Reconcavo and Potiguar, and 84 in the offshore basins of Sergipe-Alagoas, Jacuipe, Espirito Santo, Campos, Camamu-Almada and Pelotas," the National Petroleum Agency (ANP) said.

The measure is part of the package for the energy sector, which aims to help the Brazilian economy resume growth. The country's first quarter GDP figures were negative and perspectives are not good for the second quarter.

"We are very hopeful and optimistic," said Braga. Enditem