Sinopec in April 2020 was starting a process to sell its 20% stake in the PAMA-M-192 and PAMA-M-194 exploratory blocks in the Para-Maranhao Basin, according to the company. Petrobras holds the remaining 80% on the two blocks and will have the rights of first refusal on any farmout offers received. However, that seems unlikely since Petrobras is selling up to 40% of its share in the blocks also. The Round 6 concession blocks have a total area of ??1,538 sq km. The minimum exploratory program for the second period of exploration calls for the drilling of a well in PAMA-M-192. Sinopec claims the blocks feature world-class prospects, with low exploration commitments and the potential to prove significant volumes of oil in a frontier area. Sinopec also touts a proven petroleum system both on the shelf and in deepwater for oil generation and migration. To express formal interest in the farmout process, companies must be listed by the ANP as Operator A or non-operator or be able to meet the requirements to qualify with the ANP. Interested companies should communicate this to Sinopec by 25 April. Petrobras, in late February 2020, extended the deadline to file documents showing interest in the teaser to divest the BM-PAMA-3 and the PAMA-M-192 and PAMA-M-194 exploratory blocks in the Para-Maranhao Basin. At an ANP Board of Directors Meeting on 28 September 2016, the board reviewed a Discovery Assessment Plan (PAD) for the 1BRSA903PAS discovery on the BM-PAMA-3 block in the frontier Para-Maranhao Basin. The final completion date for the PAD is now 15 December 2020 when Petrobras will have to issue a declaration of commerciality or relinquish the area. Petrobras acquired 3D seismic over the contract in early 2009. The ANP, in April 2012, approved Petrobras's discovery evaluation plan for the significant, rank wildcat, 1BRSA903PAS, Harpia prospect, on the south-central part of the BM-PAMA-3 Block. To date no follow up appraisals have been drilled for the discovery. Petrobras concluded operations during late September 2011 on the well after reporting oil and gas shows. It was considered by some to be the most significant well drilled in Brazil during 2011. Petrobras drilled the well in a water depth of 2,060m. Petrobras had a PTD of 5,908m for the wildcat and drilled a very large, gravity induced, faulted anticlinal structure. The principal targets were the Eocene portion of the Travosas Formation with secondary targets possibly in the Cenomanian section of the Travosas Formation. Additional targets were believed to exist in the Oligocene and Miocene sections of the Travosas Formation. The Travosas Formation ranges in age from Cenomanian to Pleistocene and is predominantly shale with sandstone turbidites, fans, and channels that range through the entire extent of the formation. 
Sinopec in April 2020 was starting a process to sell its 20% stake in the PAMA-M-192 and PAMA-M-194 exploratory blocks in the Para-Maranhao Basin, according to the company.