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Brazil Round 3

Announced on 19 October 2000, the 3rd Bidding Round for Exploration and Production of Oil and Natural Gas offered 53 blocks - 10 onshore blocks and 43 offshore. The blocks were in 12 Brazilian sedimentary basins: Barreirinhas, Camumu-Almada, Campos, Ceará, Espírito-Santo, Jequitinhonha, Pará-Maranhão, Paraná, Potiguar, Recôncavo, Santos and Sergipe-Alagoas.

This round maintained the trend to reduce the size of the blocks and offer opportunities to companies of all sizes and profiles.

This Bidding Round occurred on 19 and 20 June 2001, with the participation of 26 companies (42 previously qualified companies). 34 blocks were bought, totalizing a 48,629 thousand km² area (almost 89,823 thousand km² were offered).

The signature bonus revenue was almost R$600 million and the average commitment to acquiring local goods and services was 28% in the exploratory phase and 40% in the development phase.

 

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