Prio wins Magnetita pre-salt block for 93.3 million reais

Brazilian independent oil producer Prio secured the first exploration block awarded in Brazil's pre-salt bidding round on October 7, 2026. The company took the Magnetita block with a fixed signature bonus of 93.3 million BRL.

Prio was the sole bidder for Magnetita, submitting an offer that pledges 32.80% of future profit oil to the federal government under the production sharing contract.

In the same bidding session, Prio also won the Hematita block as the only bidder, paying a fixed signature bonus of 1.58 million BRL. The company offered a 7.18% share of profit oil to the state, above the minimum regulatory requirement of 1.73%.

Both blocks lie in the Campos Basin. The fourth production sharing cycle held by regulator ANP offered 13 pre-salt blocks across the Campos and Santos basins, attracting 19 qualified oil companies and representing potential signature bonuses of 1.235 billion BRL.