Petrobras has secured ten blocks in the Foz do Amazonas Basin and three in the Pelotas Basin during Brazil’s 5th Cycle of the Permanent Concession Offer by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
In the Foz do Amazonas Basin, Petrobras said in a recent June announcement that it partnered with ExxonMobil Exploração Brasil to acquire blocks FZA-M-1040, FZA-M-1042, FZA-M-188, FZA-M-190, FZA-M-403, FZA-M-477, FZA-M-547, FZA-M-549, FZA-M-619, and FZA-M-621.
Petrobras will operate the first five of these blocks with a 50% stake, sharing equal participation with ExxonMobil. ExxonMobil will operate the remaining five, with Petrobras holding a 50% stake. In the Pelotas Basin, Petrobras partnered with Petrogal Brasil S.A. to acquire blocks P-M-1670, P-M-1672, and P-M-1741.
Brazil’s Foz do Amazonas now seen as ‘akin to Guyana’s Stabroek Field’ – Horizon Engage | OilNOW
Petrobras will operate all three Pelotas blocks with a 70% stake, while Petrogal holds the remaining 30%. The total signature bonus for the acquired blocks is approximately R$139 million, payable in October 2025.
The selection process also considered the proposed minimum exploratory program, measured in work units, as part of the auction criteria.
Petrobras President Magda Chambriard said the company achieved its acquisition goals while maintaining “economic discipline”. She reaffirmed Petrobras’ optimism about increasing reserves and contributing to Brazil’s energy security through continued exploration in the Equatorial Margin and Pelotas Basin.
Petrobras’ participation aligns with its long-term strategy to lead operations in ultra-deep waters.
The acquisitions will add nearly 9,600 km² to Petrobras’ exploration portfolio.
