Brazil to Let Foreigners Invest in Pre-Salt Fields, Folha Says

By Anabela Reis
Aug. 18 (Bloomberg) -- Brazil won't restrict foreign companies from investing in new pre-salt oil fields after changes to energy legislation, Folha de S. Paulo reported, citing an unidentified minister.
Brazil doesn't plan to create a monopoly for state-owned Petroleo Brasileiro SA or nationalize new fields, the newspaper cited the minister as saying. Pre-salt deposits are located in waters as deep as 3,000 meters (9,840 feet) and beneath as much as 7,000 meters of seabed.
The government is discussing an amendment to the oil law to boost state returns from new offshore discoveries. President Inacio Lula da Silva wants to invest the additional funds in education, the newspaper said.