March 17, 2020
Brazil's state-owned oil company Petrobras said it asked for binding bids for the exploratory blocks in the BM-P-2 concession in the Pelotas Basin off the coast of Rio Grande do Sul.
Petrobras and France's Total each own 50% of BM-P-2, but they could sell between 30% and 65% of the concession, while leaving Petrobras as the operator, the Brazilian company said in a statement on Monday.
It also said it will send bidding instructions to eligible bidders with at least BRL38 million ($7.63 million)
Brazil's state-owned oil company and France's Total aim to sell 30% to 65% of a block in the Pelotas Basin