Open Acreage Opportunities – Ultra Deep Campos and Santos

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Continuing our analysis of the Open Acreage areas, today we will highlight the ultra-deepwater Campos and Santos blocks.

There are 15 blocks, with Bid Bonds ranging from BRL 150,000 to 4,800,000 and Minimum Signature Bonus ranging from BRL 12,055,000 to 372,704,000. S-M-883 and S-M-1008 are by far the most expensive ones, given the pre-salt structural high identified by ANP.

It is also worth mentioning that the Minimum Signature Bonus is slightly inferior on most of the blocks, compared to how much was required on past bids.

In general, those blocks are yet to be properly explored. Even though all of them were offered either on the 15th or 16th Bidding Rounds, there were no bids. None of them have been drilled in the past and half of them are not covered by any 3D seismic survey. However, all of them are still considered “High Potential” according to ANP’s Tender Protocol.

The whole region beyond the pre-salt polygon is new to the industry: all of the blocks around the Open Acreage ones were acquired in the last two years, and so, there are no assets with declaration of commerciality or production data close to them.

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