UPDATE 1-Brazil regulator renews two Petrobras offshore leases for 27 years

May 17, 2016 10:31 PM

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RIO DE JANEIRO May 17 Brazilian petroleum regulator ANP said on Tuesday that it extended state-run oil company Petroleo Brasileiro SA's concessions to explore and produce oil from the Marlim and Voador offshore fields for 27 years, to 2052.

The extensions were made to help facilitate new investment in the fields, which require new wells, production equipment and other capital spending to help maintain their declining output, the ANP said in a statement.

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