Rosneft to take part in Brazil’s 13th licensing round

Rosneft_to_take_part_in_Brazil's_13th_licensing_roundRosneft’s subsidiary, RN-Brasil, has registered as a participant in the 13th license round organized by ANP (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis – Brazil).

The registration is subject to the approval of ANP and will allow the company to take part in the license round and obtain geological data related to blocks selected by Rosneft.

Ten blocks and basins, both on and offshore, will be auctioned by ANP within the 13th licensing round.

Rosneft said that the potential participation in Brazilian license rounds represent a constituent part of a new focus area of Rosneft’s international strategy: the company promotes its positioning in regions of significant hydrocarbon potential, where production is possible in the mid and long-term. Furthermore, these projects allow Rosneft to obtain access to high-quality assets, while abiding an effective investment policy. The final decision to participate in the 13th license round will be taken upon analyzing the data, provided by ANP.

According to its press release, Rosneft sees Brazil as a country with huge oil and gas growth potential. These estimates are based not only on development forecasts, but also on the production plans of key players in the Brazilian market.

“That creates an important opportunity for Rosneft to increase its market share, especially in the area of gas sales,” Rosneft said.

Currently Rosneft is preparing to close the transaction to acquire PetroRio’s 55% interest in the Solimões project, which will lead to Rosneft Brasil receiving 100% control and full operatorship in the Solimões project to the company.

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