Eduardo Braga, Brazil’s minister of mines and energy, announced the upcoming 13th bid round for oil and gas exploration in Brazil, a press release from the Ministry of Mines and Energy said May 5. The round will take place later this year. Braga made the announcement at the Offshore Technology Conference (OTC) in Houston, and details of the round were published by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The 269 blocks to be auctioned in 2015’s fourth quarter are outside the presalt area. Any company meeting certain requirements can explore them without a Brazilian partner, the press release added.

Braga said the planning for the next round will entail assessing needs of companies that are bidding, demand in the service and supply sector, involvement of local industry and results of recent studies by the ANP.

Braga said that 36% of all oil discovered worldwide in the last five years--22.2 Bbbl--was discovered in Brazil. Of deepwater discoveries alone, 63% were discovered in Brazilian waters. Investors have many business opportunities in the country, he added. Natural gas, in particular, is a key investment opportunity, Braga said.

There are 2.8 MM sq km for potential exploration, 307,700 of which “offer guaranteed success.” Companies currently operating in the sector have 430 fields under production. In addition, there are no restrictions on oil exports from Brazil, with over 500 MMbbl/d exported in 2014 by 17 companies. State-owned Petrobras accounted for only 45% of such exports.

Braga will also participate in meetings with representatives of several companies in the sector while in Texas. Representatives of the ANP and Petrobras were at OTC.

Offshore