El Fondo
Back to news

Petrobras secures 12 offshore blocks for BRL 2.97 billion

The state oil company dominated the auction by the National Petroleum Agency on Wednesday.

El Fondo Newsdesk
El Fondo NewsdeskAutomated market news
·1 min

Petrobras won 12 offshore exploration blocks on its own in the Campos Basin during an auction held on Wednesday, October 7, by the National Petroleum, Natural Gas and Biofuels Agency. The company offered roughly BRL 2.97 billion in total signing bonuses.

In five of the acquired blocks, Petrobras beat a competing consortium formed by TotalEnergies and QatarEnergy.

The auction offered 48 blocks in total and raised just over BRL 3 billion for the Brazilian government, according to data from the National Petroleum Agency. Petrobras accounted for nearly the entire amount raised through its bids.

Newsletter

Markets in your inbox, weekly

LATAM-focused analysis, investing ideas, and the week in finance.