On January 24, 2013, the National Oil Agency published on its website the drafts of the Tender Protocol and of the Concession Agreement of the 11th Bidding Round. The documents will be subject to suggestions and comments until February 4th, 2013 and a public hearing will be held on February 19th. The auction is scheduled to May 14th and 15th, 2013. The full schedule of events may be found on the 11th Bidding Round’s website (http://www.brasil-rounds.gov.br/index_e.asp).

We also highlight that the government announced its intention to include additional 117 blocks in the 11th Round, increasing the total amount of blocks offered from 172 to 289. The additional blocks are located in the Basins of Espírito Santo, Tucano Sul, Foz do Amazonas and Pernambuco-Paraíba. This inclusion, however, is subject to approval by the National Council of Energy Policy.

In addition, the government announced tentative dates for the 1st pre-salt bidding round (November 28th and 29th) and for another bidding round directed at non-conventional gas prospects (December 11th and 12th).