Brazilian oil fields a hard sell after crude price plunge

martes 2 de junio de 2015 10:48 GYT

* Bidding round for 269 blocks scheduled for Oct. 7

* Lower oil prices force Brazil to "adjust calculations"

* Country seeks to double output and exports by 2025

By Vladimir Soldatkin

LONDON, June 2 (Reuters) - Brazil said on Tuesday that lower crude prices had presented a major challenge to its plans to sell dozens of oil and gas fields and that it had been forced to "adjust all calculations".

The Brazilian oil industry has been struggling with erratic production levels, tough regulation and a major corruption scandal involving the state-run oil company Petrobras .

The bidding round, scheduled for Oct. 7, will offer 269 blocks in 22 sectors of 10 sedimentary basins. But Brazilian authorities, who aim to double national oil production and exports by 2025, acknowledged the auction may not go as smoothly as they had envisaged a year ago.

"Companies are telling us that they are conservative because of the current level of oil prices ... From August to February oil prices fell from $110 per barrel to $48. And this is the real difference for all the petroleum industry," said Magda Chambriard, director of Brazil's state oil agency ANP.

"This is something that made us adjust all calculations related to this bidding round that were ready in 2014," she told reporters after the bidding round presentation in London.   Continuación...