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Brazil Round 4

The 4th Bidding Round, announced at the end of 2001, occurred on June 19 and 20, 2002, in Rio de Janeiro. 54 blocks we offered in 18 sedimentary basins: Amazonas, Barreirinhas, Campos, Cumuruxatiba, Espírito Santo, Foz do Amazonas, Jequitinhonha, Pará-Maranhão, Parnaíba, Pelotas, Pernambuco-Paraíba, Potiguar, Recôncavo, Santos, São Francisco, São Luís, Sergipe-Alagoas and Solimões.

For the 4th Bidding Round, 29 companies from 15 countries were qualified, 17 of which submitted bids. 21 blocks were acquired by 14 of these companies. An area of 144,106 km² was offered, and 25,289 km² of it were acquired.

The signature bonus revenue was around R$ 92 million. The average local content the winning companies undertook was 39% in the exploratory phase and 54% in the development and production phase.

Despite the unfavorable international economic situation, the 4th Bidding Round closed with an extremely positive balance - 14 winning companies, including 5 which did not have, at that time, any activity in Brazil.

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