South Santos Open Acreage Blocks

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With the kick-off of the Open Acreage 2nd Cycle, we prepared a series of weekly posts regarding some of the areas on offer.

The first blocks to be explored are in the south part of Santos, just outside the pre-salt polygon.

Those are 78 blocks, with Bid Bonds ranging from BRL 10,000 to 150,000 and Minimum Signature Bonus ranging from BRL 934,000 to 9,382,000.

It is a fairly explored region, having had blocks acquired on 8 different rounds on the last two decades by operators such as Chevron, Karoon, Newfield Exploration, Petrobras, and Texaco.

The oldest well in the area is from 1978. Since then, 52 wells – the majority of them exploratory – were drilled on 33 of the 78 blocks being offered. The most recent one is from 2012.

As examples of commercial fields, we can highlight Caravela, with an accumulated production of 24.6 million boe (oil + gas), Coral with 14.1 million boe, and Baúna – still producing around 16,000 bbl/day of oil – with an accumulated production of 100 million boe (oil + gas).

The available blocks present opportunities for Oligocene sandstones (analog to Baúna), Albian Carbonates (as Caravela and Coral), and Pre-Salt structures underexplored, with only a single well drilled within the area.

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