Enrolled companies are eligible to express interest in blocks for the new Permanent Offer Cycle of Production Sharing (OPP)

On October 29, 2025, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) informed that companies currently enrolled in the Permanent Offer of Production Sharing (OPP), may submit a declaration of interest (accompanied by an offer guarantee) for one or more available blocks.

Currently, the OPP tender protocol lists eight (8) blocks eligible to participate in the next bidding round: (i) in the Santos Basin, the Jade, Ágata, Amazonita, Safira Leste, and Safira Oeste blocks; and (ii) in the Campos Basin, the Larimar, Turmalina, and Ônix blocks.

Larimar and Ônix were available in the 3^rd OPP Cycle but were not awarded in that bidding round. Thus, they will be available again in the new bidding round.

Two (2) other blocks in the Santos Basin, Cruzeiro do Sul and Mogno, have already been approved by the National Energy Policy Council (CNPE) and have the joint approval of the Ministry of Mines and Energy (MME) and the Ministry of Environment and Climate Change (MMA), and can, therefore, be added to the tender protocol.

The ANP anticipates that the OPP tender protocol is expected to be republished in 2026, including these two areas in the Santos Basin.

The CNPE has already approved sixteen (16) other blocks in the Santos Basin, but the joint approval of the MME/MMA is still pending. This approval must to occur in due time during the process of republishing the OPP tender protocol so that the following blocks are eligible for inclusion in the next OPP cycle: Rubi, Granada, Aragonita, Calcedônia, Cerussita, Malaquita, Opala, Quartzo, Rodocrosita, Siderita, Hematita, Limonita, Magnetita, Calcita, Azurita e Dolomita.

Therefore, the OPP tender protocol currently features eight (8) blocks, but it could potentially reach twenty-six (26), should the necessary procedures be completed by the ANP’s republication of the tender protocol in 2026.

Discussions about the new OPP cycle follow the conclusion of the 3^rd OPP Cycle, which established itself as one of the most significant in recent years, registering expressive results in terms of competitiveness and revenue. Out of the seven (7) blocks offered, five (5) were awarded, with an average premium of $91.20% on the Union’s profit share oil and signature bonuses totaling R$ 103,728,181.09.

Conclusion

The current outlook brings promising expectations for the new OPP cycle, which already includes eight (8) high-potential blocks in the Campos and Santos Basins, including the two unawarded blocks from the 3^rd OPP Cycle, Larimar and Ônix.

If all blocks in contention are included, the new OPP cycle could feature twenty-six (26) blocks, provided all procedures are concluded in time for the ANP’s republication of the tender protocol in 2026.

Thus, the significant increase in the number of areas to be offered in the new OPP cycle demonstrates the maturity of the Production Sharing regime, as well as the continued interest of companies in participating in this type of bidding round.

The table below summarizes the blocks that may be available in the next OPP round:

Number of blocks	Blocks	Status
Eight (8)	Santos Basin: Jade, Ágata, Amazonita, Safira Leste and Safira Oeste; and Campos Basin: Larimar, Turmalina and Ônix.	Already included in the OPP tender protocol.
Two (2)	Santos Basin: Cruzeiro do Sul and Mogno.	Approved by CNPE, with joint MME/MMA approval. Awaiting inclusion in the tender protocol, which is expected to be republished in 2026.
Sixteen (16)	Santos Basin: Rubi, Granada, Aragonita, Calcedônia, Cerussita, Malaquita, Opala, Quartzo, Rodocrosita, Siderita, Hematita, Limonita, Magnetita, Calcita, Azurita and Dolomita.	Approved by CNPE. Pending joint approval by the MME/MMA, which must occur in time for the OPP tender protocol’s republication in 2026.
Total: Twenty-six (26)

 

The CMA Energy and Natural Resources Team is available to provide further clarification on this topic.