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Round of bidding in the Pelotas Basin increases optimism in Brazil's deepwater industry.
The latest round of bidding, held on December 13th, resulted in the auction of 193 oil and gas blocks in Brazil, indicating a promising scenario for the sector, according to analyzes by consultancy Wood Mackenzie.
In this negotiation process, highlights included the total value in bonuses of US$85 million, the acquisition of 44 blocks in the Pelotas Basin – 29 of which are operated by Petrobras and 15 by Chevron – and the attraction of bids in all Basins, including in the Paraná Basin.
Brazilian Bidding Round: Results and Participants
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• BP, Equinor, Karoon and CNOOC will operate blocks in the Santos Basin
Commenting on the results, Marcelo de Assis, research director at Wood Mackenzie, said: 'The Brazilian bidding round was successful and injected some optimism into Brazilian deepwater following recent disappointments in pre-salt exploration. This round of bidding opened a new border, Pelotas Basin, with consortia led by Petrobras competing for areas with Chevron. Chevron spent the most. Following discoveries in Namibia and ongoing activities in Uruguay, explorers are re-evaluating Pelotas in Brazil.'
According to Assis, the Petrobras concentrated its offers only in Pelotas. It was a surprise that Petrobras is opening another frontier area beyond the Equatorial Margin, after more than a decade of exploratory efforts in the Campos and Santos Basins. Petrobras has partnered with Shell and Shell and CNOCC, depending on the blocks.
BP was the only bidder for production sharing contracts in the pre-salt polygon. It acquired the Tupinambá block offering 6,50% of the government's profit in oil (the only bidding parameter), a value close to the minimum (4,88%). This area is adjacent to another block operated by BP.
Participation of Companies and Exploration Perspectives
The bidding rounds were marked by the diversity of participants and the growing interest in oil and gas licensing. The presence of Petrobras, BP, Equinor, Karoon, CNOOC and Elysian highlights the relevance of the sector and boosts block transactions in strategic areas, such as the Pelotas Basin. Competition between Brazilian and international operators reflects a dynamic and promising market, driven by research and exploration of deepwater reserves.
The consolidation of production sharing contracts in the Santos Basin and BP's entry into this scenario demonstrate a significant movement in the context of oil and gas licensing in Brazil. The exploration of adjacent areas and the formation of strategic partnerships between companies promise to boost the sector's advancement and encourage new block negotiations in border regions.
Challenges and Opportunities in the Oil and Gas Industry
The panorama of the bidding rounds reveals a challenging scenario, but full of opportunities for the companies involved. The diversification of research and exploration activities, combined with the growth of the bonus and production sharing contracts, suggests a favorable environment for investments and transactions in the oil and gas sector in Brazil.
Innovation and business strategy stand out as fundamental elements for success in this competitive context, in which operators seek to consolidate their positions and expand their operations in promising areas, such as the Pelotas Basin. The search for efficient solutions and adaptation to market demands are essential to guarantee the sustainability and growth of the company. deep water industry in the country.
