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2mo ago

Petrobras, Equinor Lead as Brazil Awards Five Pre-Salt Blocks in ANP’s 3rd Sharing Round

Bids tied to the Union’s oil‑excess share delivered steep premiums under the OPP regime.

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Overview

  • ANP awarded five of seven blocks on Oct. 22, collecting R$103.7 million in signing bonuses and securing about R$451.5 million in minimum exploration commitments.
  • Petrobras took Citrino with 100% operatorship at a 31.19% oil‑excess share for the Union, the day’s highest premium at 251.63%.
  • Petrobras and Equinor won Jaspe in a 60/40 consortium at 32.85%, while Equinor alone captured Itaimbezinho with a 6.95% offer, the smallest premium.
  • In the Santos Basin, CNOOC (70%) and Sinopec (30%) secured Ametista with a 9% share to the Union, and Karoon won Esmeralda with a 14.1% offer; Karoon and Sinopec are new to Brazil’s pre‑salt sharing regime.
  • Ônix and Larimar drew no bids and will be reoffered in a future cycle, with contract signing for winners due by May 29, 2026 and ANP signaling an annual cadence for upcoming rounds.