Petrobras Acquires 13 Oil and Gas Blocks in Brazil’s Latest Bidding Round
June 18, 2025
Brazil’s state-run oil and gas firm Petrobras has acquired 10 blocks in the Foz do Amazonas Basin and three blocks in the Pelotas Basin in the fifth Permanent Concession Offer Cycle of the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
In the Foz do Amazonas Basin, Petrobras acquired 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, in partnership with ExxonMobil Exploração Brasil.
In the first five blocks, the consortium will have Petrobras as operator, with a 50% stake, in partnership with ExxonMobil (50%). In the other five blocks, ExxonMobil will be the operator and Petrobras will have a 50% stake.
In the Pelotas Basin, Petrobras acquired blocks P-M-1670, P-M-1672, P-M-1741 in partnership with Petrogal Brasil. The consortium will have Petrobras as operator in all blocks, with a 70% stake, in partnership with Petrogal Brasil (30%).
(Credit: Petrobras)
“We managed to win the areas that were our priorities, offering bonus amounts within our economic premises. We are satisfied with the auction results.
“With these results and the continuity of our exploration activities, including in the Equatorial Margin and the Pelotas Basin, we remain optimistic about our chances of replacing oil reserves and ensuring Brazil's energy security”, said Petrobras CEO Magda Chambriard.
