Chevron Corp. (NYSE: CVX) is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Feb. 6 on its website.
The auction, slated for March 29, will offer 70 blocks in the offshore Ceará, Potiguar, Sergipe-Alagoas, Campos and Santos basins and onshore basins of Parnaíba and Paraná.
The deadline to register for the auction is Feb. 7. Chevron did not immediately respond to a request for comment.
Chevron did not bid in an October auction that opened Brazil’s offshore presalt play to foreign operators and was dominated by Royal Dutch Shell Plc (NYSE: RDS.A).
However, Chevron is seeking to ramp up its production in Brazil.
Reuters reported in December that Chevron had reached preliminary agreement with oil services company Schlumberger Ltd. (NYSE: SLB) to drill six wells in a Brazilian offshore field in a bid to lift its output there after a 2011 oil spill that cut production.