April 18, 2019 / 12:30 AM / 3 months ago

Signing bonus for Brazil's pre-salt oil auction set at $26.9 bln -economy minister

BRASILIA, April 17 (Reuters) - Brazil’s government will require a signing bonus of 106 billion reais ($26.9 billion) in an auction of exceeding oil from the pre-salt fields scheduled for Oct 28, Economy Minister Paulo Guedes said on Wednesday.

Companies bidding would also have to compensate state-run oil company Petrobras for investments that Petrobras already made in the blocs. The auction comes after the settlement of a long-running dispute between Petrobras and the Brazilian government about one of the world’s most promising offshore oil areas.

$1 = 3.9382 reais Reporting by Tatiana Bautzer

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