Insight
Brazil's Concession Round 16 results: a multitude of operators and a record bonus
Report summary
On 10 October, Brazil’s Round 16 highlighted yet again global appetite for high-quality deepwater acreage. In contrast to previous rounds – which were dominated by the Majors and Petrobras – these awards were notable for the assertive bidding by PETRONAS and QP. It marked the debut of PETRONAS as an operator in the Campos Basin. Total grabbed the C-M-541 block where the prized Nemo prospect is located. This round also marked the return of Chevron as operator in Brazil. Petrobras won just one block, evidence of competition and a successful open market.
Table of contents
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Record-breaking bonuses keep getting higher
- As expected, Campos basin blocks near the pre-salt polygon dominated the round.
- As we anticipated, the frontier blocks again failed to attract bids
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PETRONAS and QPI dominated the round
- Majors
- Independent companies
- NOCs
- Last call for attractive pre-salt exposure
- Appendix
Tables and charts
This report includes 8 images and tables including:
- The round outcome highlights the need to secure acreage to offset natural reserve life declines
- Blocks won by operator
- The 10 most expensive blocks
- Acreage by basin
- Licensed blocks by company and financial commitment
- Participant's production in Brazil
- Remaining reserves WI (mmboe)
- A successful market opening: BP surpassed Shell, while Repsol, Chevron and QPI doubled acreage
What's included
This report contains:
