Giant Libra pre-salt rights awarded offshore Brazil

Only one consortium of 11 registered bid for a 35-year production-sharing contract to develop the Libra pre-salt oil discovery in the Santos basin offshore Brazil.Libra is estimated to have fro 8 billion to 12 billion bbl of recoverable oil. Petrobras will be the operator by law and have an automatic 30 percent stake also by law plus the 10 percent of the consortium.