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Industry

China's top 3 oil giants win bids for pre-salt oil projects in Brazil

November 02, 2017


Abstract : In a new round of Brazilian government-initiated tendering for pre-salt oil field projects on October 27, the Brazilian branches of China’s three oil giants, Sinopec, PetroChina and CNOOC, all became winners on some of these Latin American oil fields.

BEIJING, Nov.2 (Xinhua) -- In a new round of Brazilian government-initiated tendering for pre-salt oil field projects on October 27, the Brazilian branches of China’s three oil giants, Sinopec, PetroChina and CNOOC, all became winners on some of these Latin American oil fields.

The tendering event was launched in two rounds on that day, with eight pre-salt oil lots in the Santos Basin offered. In the other six bids apart from the two canceled lots that failed to meet the tendering qualification, the Brazilian branches secured 80 percent of the projects’ equity altogether, with a total of 760 million Brazilian real (about 235 million U.S. dollars) expected to be raised.(Edited by Niu Huizhe,niuhuizhe@xinhua.org)

 

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Keyword: oil PetroChina CNOOC Sinopec

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