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www.marinelink.com 57panies listed could choose to forfeit the fee and not participate in the auction, and one did just that; Repsol pulled out of the auction at the last moment. Ad- ditionally, Mitsui and Petronas failed to deposit Þ nancial guarantees, thus withdrawing participation rights. With the high investments involved, which include EWTs and other Þ eld devel- opment costs, along with around $7.5 billion as bonus on signing the 35 year long, nonrenewable E&P contract, vir- tually guaranteed that the companies in-volved will form consortiums, with no company competing individually. The ANP has estimated that it could take as much as $183 billion to develop the Li-bra Þ eld.When the rules were changed in 2010, many local and international oil indus-try leaders and analysts expressed con-cern that the production-sharing model would reduce investment interest in Brazil?s pre-salt provinces, which in- clude areas in the Santos, Campos and Espirito Santo Basins. After the rules were conÞ rmed for the Libra auction, more than 200 requests for changes were made and turned down by the ANP, who said the area?s size and po- tential meant that the government could charge almost anything it wanted for the rights. ?Libra is beyond any possible comparison nowadays to other Þ elds,? said Magda Chambriard during a global road show to promote the auction. ?If companies participate, it is be-cause they see potential value. This is the biggest auction in 30-40 years around the globe.? Brazil?s government expects to re- ceive around $300 billion in royalties and other taxes from Libra over 30 years. YOU KNOW IT WHEN YOU SEE ITSuncor Energy uses HoldTight® 102 to remove salts from its FPSO Terranovaand other similar vessels in the North Atlantic every time it re-coats decks, structural steel, piping and other surfaces exposed to the sea.NO FLASH RUST = A CLEAN SURFACE HoldTight® 102 is the standard of performance for preventing ?ash rust: s NO SALT. Removes all contaminants s NO RUST. Leaves a rust-free surface for 48 hours or more ? often 3 to 5 days s NO DETECTABLE RESIDUE. There is nothing left on the surface that might interfere with your coating.Among rust preventers and salt removers, HoldTight® 102 is the most widely used, reliable, time-proven, lab-tested, ?eld-tested, rec- ommended and approved by coating companies. Call, email or visit our website today to see why HoldTight® 102 is the best option for low-cost, easy-to-achieve, and easy-to-measure contaminant-free surface preparation. Contact us today! International +1 713 266 9339 1 800 319 8802 (Toll Free in N. America) sales@holdtight.com www.holdtight.com Graç a Foster, President, Petrobras (Photo Tania Rego) MR #11 (50-57).indd 57MR #11 (50-57).indd 5711/11/2013 12:11:07 PM11/11/2013 12:11:07 PM
