Brazil oil platform

Brazil offshore auction draws big bids

RIO DE JANEIRO, March 30, 2018 – Brazil’s 15th licensing round has made about BRL 8 billion (USD 2.41 billion) for the country’s government, drawing in bids from the world’s largest majors, international media reported on Thursday.


Though only 22 of 68 blocks offered were awarded, ExxonMobil spent BRL 2.8 billion (USD 844 million) on a single bid, Reuters reported. Together with partners including Qatar Petroleum, Statoil and Petrobras, the super-major picked up a total of eight blocks, followed by Wintershall with seven. Chevron took four.

“This acreage in Brazil’s pre-salt play will provide excellent opportunities to deploy our deepwater expertise,” said Steve Greenlee, president of ExxonMobil’s exploration arm. “We will continue working with the government to develop these world-class resources for the benefit of Brazilians for many years to come.”

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