Insight
Brazil Round 12: A failure to unlock frontier basins
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Report summary
Brazil's Round 12 provided a somewhat disappointing close to licensing in 2013. Held under the existing concession system, it raised less than US$300 million in the form of signature bonuses and work commitments. Less than 30% of the offered acreage was licensed by 12 companies, and the round largely failed in its objective to unlock frontier onshore areas prospective for unconventional gas.
Table of contents
- Limited interest in Round 12
- A disappointing close to a bumper year
- A limited corporate landscape dominated by Petrobras
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Multiple factors contributed to limited interest
- Tough terms and the lack of infrastructure
- Local content
- Limited data available in frontier areas
Tables and charts
This report includes 7 images and tables including:
- Large tracts offered in Round 12 remained unlicensed
- Licensed blocks by basin
- Brazil Round 12: A failure to unlock frontier basins: Image 2
- Round 12 total spending lagged relative to Round 11
- Licensed blocks by company
- Brazil Round 12: A failure to unlock frontier basins: Table 2
- Brazil Round 12: A failure to unlock frontier basins: Table 3
What's included
This report contains:
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