Brazil expects 1 mln bpd oil output from its largest field Libra -official
SINGAPORE, July 4 (Reuters) - Brazil expects oil output of 1 million barrels per day (bpd) from its largest oil find Libra, which is being put up for auction later this year, an official with the country's regulator said on Thursday.
The country expects to get at least $7 billion as signature bond from the auction of the field, said the director-general of Brazil's National Agency for Petroleum, Natural Gas and Biofuels (ANP), Magda Chambriard, on the sideline of a press conference in Singapore on Thursday.
Libra is the world's biggest ever prospect to be put up for auction. Production is expected to begin in five years.
Chambriard was in Singapore to promote the auctions of the pre-salt oil and onshore natural gas reserve areas.
(Reporting by Seng Li Peng; Editing by Tom Hogue)