Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) awarded 56 exploration blocks and three areas with marginal accumulations during two permanent offer sessions held in Rio de Janeiro on Wednesday, October 7.
Combined signature bonuses from both sessions totalled about BRL3.54 billion ($705 million).
The sixth permanent offer concession cycle awarded 49 blocks across the Potiguar, Tacutu, Recôncavo, Parnaíba, Tucano Sul, Campos and Ceará basins. These blocks generated BRL3.01 billion in signature bonuses, the largest sum collected since the concession model was introduced. Nine of the 10 bidding companies won acreage.
The fourth permanent offer production sharing cycle awarded seven of 13 pre-salt blocks in the Campos and Santos basins. This was the most blocks awarded in any cycle under that regime. The previous cycle in 2025 awarded five of seven.
Prio won Magnetita and Hematita. A CNOOC-Sinopec consortium took Jade, while Equinor secured Rubi and, with Galp, Rodocrosita. Each block drew a single offer.
Petrobras won interests in 21 blocks across both cycles. These comprise 12 Campos Basin concessions at 100 per cent and seven Ceará Basin blocks held 70:30 with QatarEnergy. Under production sharing, the company took the Azurita and Cruzeiro do Sul blocks.
The company said its bonus obligation of BRL3.22 billion is payable by December 30, 2026. It said the awards add more than 18,000 square kilometres to its exploration portfolio.
The ANP expects contracts for both cycles to be signed by February 26, 2027.
