In offshore licensing, Brazil awarded seven of 13 blocks in the fourth cycle of its permanent production sharing offer on 7 October.[14] ANP reported BRL 530,466,522.04 in signing bonuses and BRL 778,426,200 in minimum investment planned for the exploration phase.[9] The blocks lie in the Campos and Santos basins off southeastern Brazil.[14]
Petrobras won Azurita and Cruzeiro do Sul, while Prio took Magnetita and Hematita.[9] Equinor secured Rubi and a 70 percent interest in Rodocrosita alongside Galp.[9] CNOOC and Sinopec won Jade with interests of 70 percent and 30 percent respectively.[9]
Only six of the 19 qualified companies submitted bids, and each awarded block had a single bidder.[14] All winning offers exceeded the minimum government share of surplus oil, with Rodocrosita attracting the largest premium at 494.64 percent.[14] That premium applies to the offered surplus oil share, not to the fixed signing bonus.[9]
ANP said this cycle awarded more blocks than any earlier cycle of the permanent production sharing offer, surpassing the five awarded in 2025.[9] Winners still need to submit documents and pay signing bonuses before contracts can be signed, with signing expected by 26 February 2027.[9] The reported investment commitments therefore concern future exploration, not oil production already brought online.[9]
Sources: [9] https://www.gov.br/anp/pt-br/canais_atendimento/imprensa/noticias-comunicados/4o-ciclo-da-oferta-permanente-de-partilha-da-anp-tem-sete-blocos-no-pre-sal-arrematados [14] https://agenciabrasil.ebc.com.br/en/economia/noticia/2026-10/brazils-largest-pre-salt-auction-awards-7-13-blocks Cover photograph: Archival image of FPSO P-67 in the Santos Basin, caption dated 28 May 2026. Credit: Rafa Neddermeyer, Agência Brasil.[14]