On October 22, Brazil’s National Agency for Petroleum, Natural Gas and Biofuels (ANP) held the 3rd Permanent Sharing Offer in Rio de Janeiro. Of the seven pre-salt blocks offered, five were awarded — Esmeralda and Ametista, in the Santos Basin, and Citrino, Itaimbezinho, and Jaspe, in the Campos Basin.
The winners were:
- Karoon – Esmeralda
- CNOOC (70%) and Sinopec (30%) – Ametista
- Petrobras – Citrino
- Equinor – Itaimbezinho
- Petrobras (60%) and Equinor (40%) – Jaspe
Jaspe received the highest bid of the round, offering 32.85% of profit oil to the State, after Petrobras exercised its right of first refusal over Chevron’s proposal. Signature bonuses totaled BRL 103.7 million, with initial exploration investments of BRL 451.5 million.
The round marked the debut of independents Karoon and Sinopec under Brazil’s production-sharing regime, signaling greater diversity among operators historically dominated by majors. The Chinese consortium CNOOC–Sinopec became the first state-owned operator from China to lead a pre-salt area.
Despite the absence of most traditional majors, the auction was deemed a success given the current oil price volatility and reduced attractiveness of the sharing regime. Citrino registered the highest premium, with 251.63% above the minimum profit oil percentage.
ANP Director Symone Araujo emphasized that “replacing reserves is a fundamental duty for energy security.” The agency is now preparing the technical presentation of 16 new blocks for inclusion in the next bidding cycle, potentially bringing 26 new areas to the market under the sharing regime.
Contract signing is expected by May 2026.
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