Chris Wolfe in the Houston Business Journal: Houston Stakes High for Brazilian Oil Field

09/13/2013


After five fairly quiet years, Brazil is holding its first oil block auctions this fall, and Houston energy companies are expected to be major players in the bidding. HBJ talked with three energy lawyers from locally based firms representing interests that may invest more than $6 billion as they compete for a stake in the offshore Libra oil field, about 140 miles off the coast of Rio de Janeiro.

Chris Wolfe
Energy partner, Houston office of Haynes and Boone, LLP

What's making the energy industry hot in Brazil?
The sheer size of the undeveloped resources. Brazil is not heavily explored. There are still discoveries waiting to be made. Brazil is a temperate climate with a significant population and a developing economy. Not everything has to be imported to explore, drill, produce, transport and market oil and gas. Brazil has a stable government, (and) Brazil is basically business-oriented. For example, Petrobras, while state-controlled, operates to a large degree as an international oil and gas company and not as a social welfare program.

Excerpted from Houston Business Journal, September 13, 2013. To view full article, click on the PDF linked below.

PDF - Houston Stakes High for Brazilian Oil Field

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