On October 22 in Rio de Janeiro, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (“ANP”) held the public session of the 3rd Cycle of the Permanent Offer for Production Sharing regime (“OPP”).
In this 3rd Cycle of the OPP, five out of the seven blocks offered were awarded, all of them located within the Pre-Salt Polygon: Esmeralda and Ametista, in the Santos Basin; and Citrino, Itaimbezinho, and Jaspe, in the Campos Basin.
The signature bonuses for the five awarded blocks totaled BRL 103,728,181.09, while investments planned for the exploration phase amount to BRL 451,498,600.
As a result, the number of exploratory blocks under the production sharing regime increased from 10 to 15, representing an expansion of approximately 50% in the total area under this regime, which now covers 24,800 km².
In addition, all awarded blocks received bids offering a higher profit oil to the Federal Government than the minimum percentages established in the bid notice. The average premium was 91.20%, with the Citrino block standing out with an premium of 251.63%.
See below the results for all blocks offered:
In total, 15 companies were eligible to participate in the 3rd Cycle of the OPP, of which eight submitted bids, with five winning . According to the ANP, the increase in the participation of independent companies in this cycle is the result of adjustments made to the OPP notice, aimed at promoting greater competitiveness and diversification of agents in the sector
The signing of contracts relating to the 3rd Cycle of the OPP is expected to take place by May 29, 2026.
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