Brazil sells Parnaiba blocks in first round of oil auction

Tue May 14, 2013 9:23am EDT
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RIO DE JANEIRO May 14 (Reuters) - Brazil's state-run oil company Petrobras, Portugal's Galp and Brazil's OGX won Brazilian onshore oil and gas exploration blocks in a frontier region of Brazil's Parnaiba Basin at an auction on Tuesday conducted by oil regulator ANP.

They agreed to pay a combined 61.3 million reais ($30 million) for the rights to the blocks in Brazil's northeast. The blocks are near the same basin where OGX bought rights in 2007 and is now producing natural gas.