Company created in August acquires 122 areas in the oil auction called by the Brazilian government – 12/14/2023 – Economy

by time news

2023-12-14 15:01:00

The company that acquired the largest number of exploratory areas in the oil auction held by the government this Wednesday (13) is a debutant in the sector, created in August by a technology entrepreneur from Minas Gerais.

Elysian Petro was left with 122 of the 192 areas granted. The number is equivalent to half of the exploratory blocks under contract in Brazil and more than three times the 37 exploratory blocks in the portfolio of state-owned Petrobras.

The high number of areas acquired by a debutant surprised the auction participants. Elysian committed to paying R$ 12 million in signing bonuses and expects to invest R$ 400 million in five years.

The company was inaugurated in August by businessman Ernani Machado, who controls a technology company based in Belo Horizonte. It has a share capital of R$ 50 thousand, according to the businessman, an amount that will be reviewed after the victory in the auction with new investments.

He said that he opened the company only to participate in the auction and that he will make a contribution of his own capital. “The goal is to develop technologies to extract oil with the least possible damage to nature.”

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