Petrobras is highest bidder for 22 blocks

Petrobras was the highest bidder for 22 blocks in Lease Sale 206, offered by the Minerals Management Service (MMS), the United States’ regulatory agency that manages offshore activities. Petrobras was well positioned among the main bidders and made a total investment in the order of $178.9 million.

The lease sale, which included the participation of a total of 78 oil and gas companies, focused on the central and eastern Gulf of Mexico. Of the 22 blocks, Petrobras secured 100% stakes for 11 blocks and will perform as the Operator for them.

The remaining blocks were acquired in a 50/50 partnership with Devon Energy. Petrobras will operate four of them, while its partner will operate 7.