Libra Pre-salt Development
Claudio Paschoa
July 20, 2013
As the time for the first pre-salt bidding round approaches, solid data begins to appear related to production forecasts and assets needed for the field’s development. Brazil’s National Petroleum Agency (ANP) has confirmed that the first pre-salt bidding round will take place in October 2013 in Rio de Janeiro and the rules concerning it have already drawn criticism from potential operators. ANP maintains that these rules will not be changed and has come forth with information concerning the field’s development. According to thr ANP, Libra is expected to produce first oil in 2018, that is, 5 years after the winning consortium signs the E&P contract for Libra. This contract will be signed by November 2013.