Petrobras dominated the concession round, securing 19 blocks representing 99.7% of total bonus revenue. The state company took 12 blocks independently in the Campos Basin for R$2.97 billion, including blocks C-M-115 and C-M-161 at R$754.2 million each with premiums exceeding 21,000%. In the Ceará Basin, Petrobras partnered with QatarEnergy in a 70-30% consortium, paying R$28.46 million for seven blocks in the Equatorial Margin’s first deep-water licensing.
Independent operators concentrated on onshore and shallow-water opportunities. Aguila secured 12 blocks and two marginal areas across Potiguar, Recôncavo and Tacutu basins. Eneva acquired six blocks in Parnaíba Basin for R$1.5 million, while Tucano Serviços paid R$5.14 million for one block with a 10,181% premium. PetroRecôncavo, Petrom, Origem Energia and Alvopetro won smaller packages.
Earlier that morning, the 4th Permanent Production Sharing Offer Cycle awarded seven of 13 pre-salt blocks for R$530.47 million in bonuses and R$778.4 million in minimum investments. Petrobras won two blocks independently in Campos and Santos basins. Prio debuted in the sharing regime with two Campos Basin blocks near its Wahoo and Frade operations, offering excess oil percentages of 32.8% and 7.18% to the government. Equinor secured two blocks, including Rodocrosita in consortium with Galp at a 494.64% premium. A CNOOC-Sinopec consortium won Jade block. Six blocks received no bids despite qualification from 19 companies including Shell, Chevron, ExxonMobil and TotalEnergies.
Contract signing is scheduled for February 26, 2027, following qualification document submission by October 14 and bonus payment by December 30, 2026.
This article was curated and published as part of our South American energy market coverage.
