Brazil’s National Petroleum Agency (ANP) has issued details related to its long-awaited 11th Licensing Round to be held mid-May this year.

A public comment period is now underway on the bid round, with a public hearing to be held this month. Final contract terms will be released in March, with contracts planned to be issued in August this year, according to the ANP on its website.

The last licensing round in Brazil was held in 2008. In the new round more than 170 blocks in nine sedimentary basins covering 17 sectors will be offered, both on and offshore, in both new and mature areas, with some of the offshore areas featuring deep and ultra-deepwater territory.

More information is available on the ANP website.

- Brazil also plans to hold its first-ever, production-sharing-rights auction for blocks in the country’s offshore subsalt polygon on 28 and 29 November. Under the production sharing contracts, bidders will team up with Petrobras, which will manage all operations and have a minimum 30% stake in all bidding groups. The government will also get a share of all output from blocks in the area.