On 10 October 2019, the consortium of Total, QPI, and Petronas bid on and were granted a preliminary award for the 2,503.40 sq km C-M-541 block in the deep-water offshore Campos Basin from the ANP Round 16. Â     There was one other bid for the block. Â      The consortium bid a bonus of USD 980.37 million at 1 USD to 4.11 BRL and USD 114.81 million in minimum work commitments.Â       The C-M-541 block had the highest bonus bid in the round that beat out a competing bid from the consortium of Petrobras and Equinor who bid USD 995.13 million but lost the bid because they only bid 1,681 work units equivalent to USD 71.98 million.Â       Total is operator with 40% working interest, QPI holds 40%, and Petronas holds 20% working interest.
Brazil, not found