Oct 11, 2019
After two years of auctions dominated by Petrobras and ExxonMobil, the 16th Round oil and gas exploration concessions was dominated by Petronas from Malaysia and QPI from Qatar. These were the companies that invested the most in the acquisition of assets in the bidding: R $ 3.72 billion in total. The amount is equivalent to 43% of the round’s revenue of R $ 8.915 billion – a record value for an auction under concessions regime.
Petronas was the main highlight of the auction. The Malaysian company was the company that took the most money out of pocket. It paid R $ 1.945 billion for three blocks in the Campos Basin, two of them as an operator, and marked its debut in the oil and gas exploration activity in Brazil.