Brazil has approved a total of 64 companies to bid in its 11th licensing round, according to the country’s regulator National Petroleum Agency (ANP).
The number of companies wanting to participate is a record, surpassing the previous number of 61 for the ninth round of auctions in 2007, it added.
A total of 71 companies submitted documentation to bid. Among those approved were OGX Petroleo e Gas SA (OGX) and Petrobras of Brazil, as well as the Brazilian units of Shell, ExxonMobil, Repsol, BP, Chevron and Hess.
The 11th round should raise more than US $500m in signing bonuses, according to ANP Director Magda Chambriard. The round will be held on 14-15 May.
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