“The data we have today indicates the equatorial margin is quite promising,” ANP director Nelson Narciso said.
In early April 2009, a well-placed source said the eleventh licensing round would only feature onshore blocks, repeating the formula used 2008 when no offshore blocks were tendered.
The ANP continues to perform geological studies at both onshore and offshore basins in order to have sufficient data in case the government plans on the future of the sector.
“Our work never stops. We don’t intend to halt our geological studies just because the government is debating the new oil law,” he said.
Narciso revealed he was due to talk about the new oil model for Brazil when he was invited to give a speech at OTC, however, Narciso said he will change the subject of his Tuesday morning presentation since nothing has been decided yet.
The ANP is also busy conducting geological studies at onshore basins by drilling stratigraphic wells to learn more about the rock layers.
The plan is to invest BRL 1 billion ($470 million) in the next five years in this project, Narciso said.
The agency is still evaluating which areas will be drilled to serve for geological knowledge, but he said the Parecis basin is out of the picture.
