Petrobras is exercising its preferential right for the second and third bidding rounds for three areas in a move to maximize the value of its portfolio.
Petrobras submitted its first formal statement to Brazil’s National Energy Policy Council (CNPE) regarding the acreage in the Sapinhoá field, Peroba, and Alto de Cabo Frio Central.
After technical analysis, Petrobras says it decided to exercise the preferential right in the three areas and in the minimum percentage of 30% in each area, focusing on maximizing the value of its portfolio.
The area next to the Sapinhoá field will be included in the second bid round; and Peroba and Alto de Cabo Frio Central will be in the third bid round. Both pre-salt rounds are to be held on 27 October.
The value corresponding to the signature bonus to be paid by Petrobras, considering that auction results confirm the minimum stake indicated above in each block, is R$810 million (US$246.6 million).
Petrobras says that the company may expand the percentage of 30% indicated for the areas where it is exercising its preferential rights, forming consortiums to participate in the bids.
In relation to blocks in which Petrobras has not exercised its preferential rights, the company says it may participate on equal terms with other bidders, whether to act as operator or non-operator.