This is the second Upstream Licensing Round Quarterly and it will keep you up to date on all licensing round activity. Q3 2017 saw yet more countries launching exploration licensing rounds, as authorities look to capitalise on industry’s desire to re-stock exploration portfolios. Amongst others, new rounds were launched in the UK (Isle of Man), Colombia and Oman and the much discussed Uruguay 3rd Round also opened. Brazil held the most successful round in Q3, with ExxonMobil making a very significant move into the pre-salt Campos Basin. The major won bids for four operated blocks and six non-operated blocks in partnership with Petrobras. The bids included the two highest signature bonuses ever paid in a Brazil concession round. Mexico debuted its latest deepwater licensing round - an assortment of 30 blocks across four different basins. We expect explorers to hone in on the Perdido and Salinas Sureste basins, the crown jewels of the round.