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World class consortium to take on Brazil's Libra opportunity
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Report summary
A consortium consisting of Petrobras (40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC Ltd (10%) has won the licence to develop Brazil's giant pre-salt Libra field. Just one bid at the minimum Profit Oil of 41.65% was enough to win.
Table of contents
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Five company consortium picks up Libra with minimum bid
- A world-class opportunity for the winners
- and a somewhat satisfactory result for the government
- Attractive full-cycle economics
- A challenging development
- An impressive consortium has been assembled
- Development risks and uncertainties drove limited interest
- Future pre-salt bidding
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Appendix
- Licensing round terms
- Modelling assumptions
Tables and charts
This report includes 8 images and tables including:
- Valuation under different reserve scenarios
- Sensitivity Analysis
- Libra and the pre-salt Santos Cluster area
- Base case Libra cumulative full cycle cash flow
- Impact of project delay
- Benchmarking Brazil PSC (Libra) in different deepwater regimes
- Base case Libra capital expenditure and production
- World class consortium to take on Brazil's Libra opportunity: Table 1
What's included
This report contains:
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