Under the partnership agreements, the winning companies will be able to explore, jointly with the Brazilian Government, blocks located in the pre-salt layer – the hydrocarbon reservoir situated beneath a vast layer of salt in the ultra-deep waters of the Atlantic Ocean off the Brazilian coast.

This layer holds some of the largest reserves discovered in recent decades; it is considered the main driver of growth in Brazilian production, which could make the country one of the world’s five largest oil exporters by the end of the decade.

Other companies authorised to participate in the auction include BP, Shell and Repsol.

Auction bid

The National Agency for Petroleum, Natural Gas and Biofuels (ANP) has clarified that inclusion in the list does not necessarily mean that bids will be submitted at the auction. To that end, companies must express their formal interest and submit the guarantees required by the regulatory body by 21 July.

The ANP also said the current tender includes the possibility of participating in partnerships to develop 23 exploration blocks in the Campos and Santos offshore basins.

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