17:24 GMT +323 June 2018
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    Rosneft pavilion at the SPIEF Investment & Business Expo at the St. Petersburg International Economic Forum

    Russia's Rosneft Has Good Chances to Obtain Oil Production Licenses in Brazil

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    Russia’s oil giant Rosneft has "very good" chances to obtain licenses for oil production on the territory of Brazil, Brazilian Ambassador to Russia Antonio Luis Espinola Salgado told Sputnik.

    MOSCOW (Sputnik) — The ambassador added that Brazil was opened for oil exploration and production by foreign companies.

    "Occasionally, there are auctions on blocs of offshore pre-salt oil fields. Apart from such oil fields, there are also auctions on oil reserves 'on firm ground,' where, I think, Rosneft has very good chances," Salgado said.

    In October 2016, the National Congress of Brazil passed a bill allowing foreign investors to participate in the development of offshore pre-salt oil fields.

    In February 2017, a spokesman of the Russian company told Sputnik that Rosneft could participate in an offshore fields' auction that could take place later in the year.

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