RIO DE JANEIRO, Sept 3 Brazil's auction of
exploration and development rights in the country's massive
offshore Libra field will continue to be on Oct. 21, national
oil regulator ANP said on Tuesday, after suggesting last week it
could be delayed.
The regulator reaffirmed the original date of the sale in
rules for the upcoming auction published on Tuesday.
The highly-anticipated auction, the first for rights to oil
in Brazil's vast subsalt region, will also be the first to be
conducted with so-called "production sharing" contracts.
The contracts, mandated by a 2010 law, give the government
greater control over the oil in subsalt fields, known as such
because of their location beneath deep layers of salt on the
The Libra field, located off the shore of Rio de Janeiro, is
estimated to hold 12 billion barrels of recoverable