Brazil pre-salt oil auction fetches $1.9 billion

The signing bonuses fell beneath the government's goal of 7.15 billion reais

Brazil's auction of deep water, pre-salt oil blocks on Friday raked in 6.15 billion reais ($1.9 billion) in Rio de Janeiro.

The signing bonuses fell beneath the government's goal of 7.15 billion reais, with two of the eight blocks not selling. However, the state also secured hefty production sharing deals from consortiums including Shell, Exxon and Statoil.

Source:AFP