Petrobras secures 21 oil blocks for 3.2 billion reais

Petrobras acquired 21 exploration blocks in the Campos, Santos and Ceará basins during two auctions held by Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP). The state-controlled producer committed to pay 3.2 billion Brazilian reais in signing bonuses to the federal government by 30 December 2026.

The transactions add more than 18,000 square kilometres to the company's exploration footprint. Most of the blocks were acquired entirely by Petrobras. In the Ceará basin, the company formed a partnership with QatarEnergy Brasil, taking a 70% operating stake while the Qatari partner holds the remaining 30%.

The blocks were offered under two regulatory frameworks. One auction followed the production-sharing regime used in strategic areas and the pre-salt polygon, while the other used the concession model, in which operators take on exploration risks in exchange for production rights.

The signing bonuses represent an initial outlay to secure exploration rights. Petrobras still faces subsequent capital expenditures for seismic surveys, exploratory drilling and eventual field development to replace maturing reserves across its portfolio.