The National Agency for Petroleum, Natural Gas and Biofuels (“ANP”) published, on 07/27/20121, the edict for the 17th Bidding Round for Exploratory Blocks.

92 (ninety-two) blocks will be offered, distributed in 4 (four) sedimentary basins, located in the Campos, Pelotas, Potiguar and Santos basins, with areas of high potential and new exploratory frontiers.

Among the blocks offered, there are 3 (three) blocks in the SS-AUP5 sector, in the Santos Basin, which are cut by the limit of 200 nautical miles. In addition, blocks S-M-1378, S-M-1613, S-M-1617 may contain deposits located beyond 200 nautical miles, in the extension of the Brazilian Continental Shelf.

National or foreign legal entities may participate in the 17th Bidding Round, individually or together in a consortium, and Equity Investment Funds (“FIPs”), in the condition of non-operator, and may only present bids in a consortium.

Local content rules are: (i) Exploration phase: 18%; (ii) Well construction phase: 25%; (iii) Collection and disposal system: 40%; and (iv) Stationary production unit: 25%.

The offers will consist of the signing bonus and the minimum exploratory program.

The judgment of the offers will be made individually for each block, through the attribution of points and weights, as indicated below:

a) the signing bonus will have a weight of 80% (eighty percent) in the calculation of the final grade;

b) the minimum exploratory program will have a weight of 20% (twenty percent) in the calculation of the final grade.

The values ​​of the signing bonus and the minimum exploratory program are informed in the notice.

Bidders interested in participating in the event must submit a guarantee must have bid guarantees defined in the notice, before the public bidding session, so that they can submit bids in the bidding process. Offer guarantees may be provided in the following modalities: (i) letter of credit, (ii) guarantee insurance, and (iii) cash guarantee.

The bidding will observe the schedule established in the notice, with the following steps being highlighted:

a) Deadline for completing the registration form, delivering the registration documents and paying the participation fee – 11/08/2021;

b) Deadline for submission of offer guarantees – 09/22/2017;

c) Public session for the presentation of offers – 10/07/2021;

d) Deadline for delivery of qualification documents (winning bidder) – 10/18/2021;

e) Deadline for payment of the signing bonus and submission of receipt – 02/16/2022; and

f) Signature of concession contracts – until 03/31/2022.

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