Bidding bonanza in Brazil's Round 15

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about subscriptions

Already have subscription? Sign In

Further information

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image

Report summary

Despite the competition from Mexico and US offshore rounds, Brazil’s cash-strapped government again succeeded in attracting huge signature bonuses in its latest licensing round. The record US$2.4 billion raised shows that companies are willing to commit very significant portions of their exploration budgets to acquire some of the world’s most prospective acreage. Companies felt that big up front cash payments were justified by the chance to get pre-salt opportunities under the more attractive concession regime. Brazil succeeded in attracting bids from a diverse group of Majors and large E&Ps. All of the Campos basin and half of the Santos basin acreage was awarded to world-class consortia. ExxonMobil grabbed the headlines, as it did in Round 14 last year, confirming the importance of deepwater Brazil to its long-term growth strategy.

What's included

This report contains

  • Document


    XLS 230.00 KB

  • Document

    Bidding bonanza in Brazil's Round 15

    PDF 971.78 KB

  • Document

    Bidding bonanza in Brazil's Round 15

    ZIP 1.02 MB

Table of contents

    • ExxonMobil and Petrobras again dominate, while other Majors forge new pre-salt partnerships
    • Potiguar basin attracts more interest than the Ceara and Sergipe-Alagoas
    • Onshore blocks received no offers
    • In addition to last year’s reforms, the ANP reduced bureaucracy for this round
    • Concession regime can offer better returns than PSC, assuming similar prospectivity
    • Conclusion
  • Appendix

Tables and charts

This report includes 7 images and tables including:


  • Licensed blocks by company and financial commitment
  • ExxonMobil and BP consolidate position in Campos and Santos basins
  • ExxonMobil now in third place for offshore acreage in Brazil
  • Brazil rounds bid equivalency (Concession bonus versus PSC profit shares)


  • Acreage by basin
  • Blocks won by operator
  • The ten most expensive blocks

You may be interested in


Questions about this report?

    • Europe:
      +44 131 243 4699
    • Americas:
      +1 713 470 1900
    • Asia Pacific:
      +61 2 8224 8898