An executive of China National Offshore Oil Corp. (CNOOC) has said his state-owned company means to expand in Brazil, and is thinking about bidding to explore more pre-salt oil blocks off the Brazilian coast, Reuters reports.
The news agency quotes the CNOOC chief in Brazil, Sheng Jianbo, as saying of the auctions for the blocks: “It seems like a good opportunity.”
Mr Sheng said on Tuesday CNOOC’s production expansion in Brazil would depend on the amount of oil it discovered.
The report says Brazil will auction rights to explore pre-salt oil blocks on November 7, and will also auction off rights to excess oil on October 28.
It quotes Mr Sheng as saying CNOOC is looking for a partner to develop an oil field in the Espírito Santo basin in Brazil.
CNOOC also owns 10 percent of the project to exploit the Libra field in the Santos basin in Brazil, in partnership with Brazilian state-owned oil firm Petrobras and others, Reuters says.
