(MENAFN) The head of the Brazilian National Petroleum Agency, Magda
Chambriard, stated that the country plans on offering a maximum of 30
percent of oil field Libra's profits for its developer, reported Bloomberg.
Chambriard also said that Libra, Brazil's largest oil field, will be up
for auction in October of this year.
The head of the agency added that the field's reserve size and oil quality attracted major oil firms from all over the world such as Chevron Corp and China Petrochemical Corp.
It is worth noting that the Brazilian government's 70 percent take
includes taxes, a signing bonus and so-called profit oil which the
company will need to pledge.
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