Brazil's 2019 exploration bid rounds: more pre-salt blocks on offer Report

Insight 06 May 2019

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Report summary

The upstream scenario in Brazil will see more action in the last quarter of 2019 with two highly competitive bid exploration rounds. Concession Round 16 (10 October) and PSC Round 6 (7 November) will offer 41 blocks in five offshore basins in deep and ultra-deep waters totalling 38,000 km2 in acreage. Adding more flavour, the Transfer of Rights surplus DRO round is scheduled between these two rounds. As in previous auctions, we expect competitive bidding to be concentrated in the Campos and Santos basins. Petrobras has already required mandatory operatorship of three PSC blocks of Round 6 with 30% participation.

What is being offered?
Terms and conditions – record-breaking bonuses keep getting higher
- Concession Round 16
- PSC Round 6
Fiscal attractiveness – pre-salt exposure at a price
Round expectations – fierce competition for pre-salt blocks

Tables and charts

This report includes the following images and tables:

Brazil rounds will offer 38,000 km2 of offshore exploration acreage, most of which in Campos and Santos basins
Number of blocks and acreage offered in the Round 16 and Round 6
Signature bonuses of Rounds 15 and 16 blocks located in the Campos and Santos basins
Comparison of concession rounds 15 and 16
Blocks in the 2018 and 2019 PSC rounds