Ten companies on Thursday agreed to pay more than $2 billion for the exploration...
RIO DE JANEIRO - Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions.
The most heavily sought after areas in the Thursday auction directly border Brazil’s so-called pre-salt area, a coveted zone in which billions of barrels of oil are trapped under a thick layer of salt beneath the ocean floor.
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