Petrobras bets on the pre-salt layer and guarantees its preemptive right in the 6th round of bidding

The company must still send competitive bids in November, in some cases Petrobras will be able to take over the E&P activities in a consortium or alone

Brazilian oil company Petrobras has exercised preferential bidding rights in three of the five shared production areas available in the sixth pre-salt round, which will take place in November. By communicating its intention to bid in the areas of Aram and Sudoeste de Sagitário, in the Santos Basin, and in the North of Brava region, in the Campos Basin, Petrobras guarantees the right to assume operational stakes in these areas, with at least 30% of the total. equity.

Petrobras will still have to submit a competitive bid in these areas, alone or as part of a consortium.

If a rival bidder offers the Brazilian government a larger share of the production than the bid by Petrobras, so the state-owned company retains the right – although not an obligation – to migrate to the winning consortium, acquiring the statutory 30% stake in the process.

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Petrobras also retains the right to bid for the other two areas – prospects in the Santos Basin called Bumerangue and Cruzeiro do Sul, but it will do so on equal terms with the other bidders, whether as operator or non-operator.

Southwest Sagittarius and North Brava will likely require unitization with contiguous pre-salt discoveries in Block BM-S-50 and the Marlim field enclosure area, both operated by Petrobras.

The two areas will respectively receive fixed signature bonuses of 500 million reais and 600 million reais when they are tendered in November.

Aram is located immediately west of the Equinor-operated Carcara pre-salt in Block BM-S-8, requiring a fixed signing bonus of BRL 5,05 billion.

Cruzeiro do Sul is surrounded by fields such as Lula, Sepia, Peroba, Pau Brasil and Jupiter and will require a fixed signing bonus of 1,15 billion reais.

The Bumerangue, located on the southern strip of the pre-salt channel, will be auctioned for 550 million reais.

The minimum share of the oil profit for the federal government will be 36,98% for North Brava, 26,09% for Southwest Sagittarius, 24,53% for Aram, 22,87% for Cruzeiro do Sul and 26,68 .XNUMX% for Boomerang.

Local content is set at 18% for the exploration phase and between 25% and 40% for the production development phase for Aram and Boomerang.

For Cruzeiro do Sul, Sudoeste de Sagitário and Norte de Brava, the local content will correspond to the percentages required in their respective unitizable areas.