On Wednesday, 21 October 2025, Brazil’s oil regulator ANP announced that Petrobras and Norway’s Equinor were the leading winners in the pre‑salt block auction, each acquiring a block and partnering to explore a third block. The transaction was disclosed in a statement released by ANP and confirmed by both companies’ representatives.
The acquisition expands Petrobras’s upstream footprint in the pre‑salt basin, a region that has historically delivered the majority of Brazil’s oil output. By securing additional blocks, Petrobras increases its proven reserves and positions itself to tap into high‑productivity fields, potentially boosting future production volumes and cash flow generation.
The pre‑salt auction marks a significant regulatory milestone, as ANP’s approval of the block allocations reflects a continued commitment to opening Brazil’s offshore resources to investment. The partnership with Equinor also signals a strategic collaboration that could enhance technical expertise and share development costs, further strengthening Petrobras’s competitive stance in the deep‑water market.
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