Strong interest sets new records in Brazil's Round 11
Exploration licensing in Brazil has returned with a bang. Following a five year hiatus, companies have offered record levels of expenditure to secure access to some of the most prospective acreage likely to be available anywhere in the world this year. The winning companies placed bids worth a total of US$4.8 billion, split US$1.4 billion on signature bonuses and US$3.4 billion of work commitments. The main attraction of the round was the vast tracts of acreage along Brazil's Equatorial...