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Capitalizing on the 16th Oil Auction of ANP Concession Round, Malaysian Oil Company Buys Fields in Campos Basin and Debuts in Brazil
Petronas, the Malaysian oil company, came to Rio de Janeiro looking to take on a leading role in the 16th oil concession auction held by ANP, which took place yesterday (10/10) at the Grand Hyatt Hotel. Oil Auction Sets Record for Revenue, See Here!
Petronas participated in the largest sale of the auction. With a 20% stake in a consortium with the French Total (40%) and QPI Brasil (40%), they acquired block C-M-541 for R$ 4.029 billion.
The company also acquired block C-M-661 for R$ 1.115 billion. The bid won against two proposals: one from the BP and Equinor consortium (R$ 850 million); and another from the group formed by Shell, Chevron, and QPI Brasil (R$ 285 million).
But these were not the only oil fields that Petronas bought at the auction. The oil company demonstrated it was serious and also acquired block C-M-715, with a bid of R$ 24.977 million.
Both acquisitions were made in their entirety, so Petronas will be the sole owner of blocks C-M-661 and C-M-715 in the Campos Basin.
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Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
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The 16th Round offered 36 blocks in the offshore sedimentary basins of Campos, Pernambuco-Paraíba, Jacuípe, Camamu-Almada, and Santos, but only 12 blocks were acquired.
However, the revenue from the signing bonuses was a record in the concession regime. The amount to be paid to the federal coffers was R$ 8.9 billion.
The Company
Petronas, short for Petroliam Nasional Berhad, is Malaysia’s state-owned oil and gas company, founded on August 17, 1974. It is a wholly state-owned company that owns all of Malaysia’s oil and natural gas reserves.
Petronas will not be the only newcomer in Brazil that acquired oil fields during the 16th concession round auction; the American ExxonMobil also secured its first victory in auctions in the country. The oil company independently purchased block C-M-479 for R$ 25.350 million.
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