Insight
A Major win for Brazil: BP, ExxonMobil and Statoil go big in the pre-salt rounds
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Brazil's profit sharing contract (PSC) Rounds 2 and 3 closed strong, confirming the global appeal of Brazil's pre-salt. The last time pure exploration acreage in the core pre-salt area was offered was twelve years ago, before the play was even identified. This pent up demand for some of the world’s most prospective acreage led to profit share rates that were on average four times higher than the minimum required.
Table of contents
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PSC Round 2 participants tried to ensure a smooth unitisation process
- Norte de Carcará
- Entorno de Sapinhoá
- Sul do Gato do Mato
- Sudoeste de Tartaruga Verde
- Unitisation still a complex process
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BP and Petrobras dominate the 3rd PSC round
- Peroba
- Alto de Cabo Frio Central
- Alto de Cabo Frio-Oeste
- Pau Brasil
- Fiscal and regulatory improvements paved the way for a successful closing
- ExxonMobil continues to expand its offshore presence in Latin America
- A big success for government and deepened pre-salt exposure for the Majors
Tables and charts
This report includes the following images and tables:
- BP leaps to second place for pre-salt polygon acreage
- ExxonMobil has boosted its presence in South America's deepwater Atlantic since 2015
- 2nd and 3rd pre-salt winners
- Block working interest (%)
- Block working interest (%)
- Block working interest (%)
- Block working interest (%)
- Norte de Carcara value sensitivity to first oil (US$B)
- Block working interest (%)
- Indicative exploration economics and sensitivity to profit share rate
- Block working interest (%)
- Block working interest (%)
What's included
This report contains:
