RIO DE JANEIRO May 14 Oil companies OGX
and Exxon Mobil Corp won Brazilian deepwater
oil and natural gas exploration blocks in a frontier region of
Brazil's Potiguar Basin at an auction on Tuesday.
OGX agreed to pay 20 million reais ($10 million) for the
rights to the PN-M-475 block and the OGX and Exxon Mobil
consortium agreed to pay 81.9 million reais for PN-M-762. The
blocks are located southeast of the city of Fortaleza in
Many geologists believe that the deeper water offshore areas
in Potiguar and other northern coastal regions of Brazil may
contain oil structures similar to those in West African
countries such as Nigeria.