The participation of two Chinese state-owned companies in the consortium that won the bidding for the Libra field, the largest oil field found in Brazil, represents a "large opening" for investment by other companies from the Asian nation, Vice President Michel Temer said.
"The simple fact that two Chinese companies have entered the oil field signifies a very large opening for other companies to come," Temer told the official Agencia Brasil news agency.
Brazil auctioned off the rights to Libra on Oct. 21, with the winning consortium made up of France's Total, with a 20 percent stake; Anglo-Dutch supermajor Shell, which has a 20 percent interest; China National Petroleum Corporation, which has a 10 percent stake; China National Offshore Oil Corporation, which holds a 10 percent interest; and state-controlled oil giant Petrobras, which has a 40 percent stake in the project.
Chinese companies have hesitated to invest in Brazil due to concerns about the "internal bureaucratization" of the South American country, but the process of reducing bureaucracy is "increasingly taking root, always in search of foreign investment," Temer said.
Brazil has other "extraordinary infrastructure projects" outside the oil industry to offer foreign investors, Temer said.
The vice president plans to travel to China next month for a series of events and a meeting with President Xi Jinping, who took office on March 14. EFE