Brazil leans toward oil production sharing-minister
RIO DE JANEIRO, May 29 (Reuters) - Advisors to the government "strongly support" a production sharing model to develop Brazil's massive subsalt oil reserves, as Latin America's largest economy considers changes to its Oil Law to fund social welfare programs, Energy Minister Edison Lobao said on Friday.
Lobao, in an interview with Reuters, said auctions for the exploration and production of Brazil's offshore subsalt blocks, which were suspended in late 2007 after the discovery of the massive 5-8-billion-barrel Tupi field, could resume after the new law is approved by Congress. (Reporting by Denise Luna and Brian Ellsworth; Writing by Reese Ewing)
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