November 26, 2019 / 10:52 PM / 19 days ago

Brazil sets signing fees for new presalt auction at $8.7 billion

BRASILIA, Nov 26 (Reuters) - Brazil has set signing fees totaling 36.6 billion reais ($8.72 billion) for a new auction of the Sepia and Atapu presalt blocs that had no takers on Nov. 6, Brazil Finance Secretary Wanderley Rodrigues said on Tuesday.

He said 67% of the proceeds would go to the Treasury and the government is looking to holding the auction in about 8 months. Brazil's biggest ever oil auction three weeks ago disappointed as only Brazilian state-run oil company Petroleo Brasileiro S.A. and Chinese firms bid for two of the four blocs offered.

$1 = 4.1964 reais Reporting by Anthony Boadle; Editing by Sandra Maler

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