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Chinese Three Major Oil Enterprises Won The Bid Of Brazilian Sub-salt Oil Blocks
Oct 30, 2017

Brazilian government held a new round of tender of sub-salt oil blocks on the 27th. The three enterprises of Sinopec, CNPC and CNOOC, whose branches in Brazil had gains. The Brazilian government held two rounds of tenders of eight Santos Basin sub-salt oil blocks. Except for two blocks of failure, Brazilian oil companies won a total of 80% stock equity for the remaining six blocks in the bid. This tender raised funds of 760 million Real (about $ 235 million dollars) for Brazil. Brazilian President Temer congratulated on the results of the bid, he said that the tender showed the confidence of the capital market to reshape the Brazilian economy, and this tender would create 500,000 jobs for Brazil.

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