The Bid will take place next Friday and will be offering the production surplus of Atapu and Sépia under the Production Sharing regime. Both areas are currently operated by Petrobras and the company has already exercised its right of preference on them.
This is the second time these areas are being offered: Atapu with a fixed Signature Bonus of BRL 4 billion and an Oil Surplus percentage of at least 5.89%, and Sépia with a fixed Signature Bonus of BRL 7.1 billion and an Oil Surplus percentage of at least 15.02%.
Both areas are well past the exploration phase and already have one producing FPSO each, which eliminates a substantial portion of the risk involved compared to “normal” bids. Atapu started its production in June 2020 and is currently producing around 130k bbl/day of oil. Sépia started producing 4 months ago and reported about 43k bbl/day of oil in October.
In total, 11 companies are registered and able to bid on the areas: Chevron, Ecopetrol, Enauta, Equinor, ExxonMobil, Galp, Petrobras, PETRONAS, QatarEnergy, Shel, and TotalEnergies.
Good luck to all bidders!