Brazilian President Michel Temer said Friday`s auction of pre-salt offshore oil blocks will generate investments of more than 100 billion reais ($30.8 billion) in Brazil by the winning oil companies.
"We had an excellent result," Temer said in a statement. He said the exploration of the pre-salt reserves should bring in about $130 billion in royalties and other revenues, and the investments will create 500,000 new jobs for Brazil.($1 = 3.2462 reais)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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