Exploration & Production

Fourth pre-salt auction brings big bonuses for Brazil

Brazil has made $807 million in signature bonuses on three of the four blocks that were offered in the country’s fourth pre-salt auction on Thursday.
By Staff reporter 8 June 2018 0 31220

Brazil has made BRL 3.15 billion ($807 million) in signature bonuses on three of the four blocks that were offered in the country’s fourth pre-salt auction on Thursday.

Nearly 85% of the bonuses were paid for Uirapuru, a field that contains prospective unrisked oil volumes of almost 8 billion barrels.

It was won by a consortium of state-run Petrobras (the operator, with a 30% share), Petrogal (which has 14%), Equinor (formerly Statoil, with 28%) and ExxonMobil (with 28%).

“We are aiming for oil [rather than...