On December 13, 193 blocks have been auctioned in Brazil’s oil and gasoline licensing spherical, signaling robust optimism for the trade, in keeping with Wood Mackenzie.
Highlights from these bid rounds included:
• The whole quantity in bonuses was US$85 million
• 44 blocks have been acquired within the Pelotas Basin, a frontier space. Petrobras will function 29 and Chevron 15
• All Basins managed to draw bids, even Parana Basin
• A single Brazilian operator, Elysian, acquired 122 onshore blocks
• BP, Equinor, Karoon and CNOOC will function blocks within the Santos Basin
Commenting on the outcomes, Marcelo de Assis, analysis director at Wood Mackenzie, mentioned: “The Brazilian bid round was successful and injected some optimism in the Brazilian deep water after the recent disappointments in the pre-salt exploration. This bid round opened a new frontier, Pelotas Basin, with consortiums led by Petrobras disputing areas with Chevron. Chevron was the biggest spender. After the discoveries in Namibia and ongoing activities in Uruguay, explorers are reevaluating Pelotas in Brazil.”
According to de Assis, Petrobras concentrated its bids in Pelotas solely. It was a shock that Petrobras is opening one other frontier space apart from the Equatorial Margin, after greater than a decade of exploration efforts in Campos and Santos Basins. Petrobras partnered with Shell and Shell and CNOCC, relying on the blocks.
BP was the only bidder for manufacturing sharing contracts within the pre-salt polygon. It has acquired the Tupinambá block providing 6.50% of presidency revenue oil (sole bidding parameter), which was near the minimal (4.88%). This space is adjoining to a different block operated by BP.
