Petrobras on 16 December 2019 put out a teaser for the sale of its stake in the BM-P-2 Contract consisting of four blocks (P-M-1269, P-M-1271, P-M-1351, P-M-1353 in the frontier Pelotas Basin in offshore southern Brazil. Petrobras has a 50% stake in the four undrilled blocks from ANP Round 6, which have been in force majeure awaiting Ibama licensing for some time. France's Total has the remaining 50% and the companies have agreed to make any divestment together offering an interest from 30% to 65% in the contract. In early September 2019, Spectrum Geo requested authorization from Ibama to conduct the third phase of 2D seismic acquisition in the Pelotas Basin. The survey is planned to start in June and end in December 2020 and will use the China's BGP Pioneer vessel. The survey plans to cover about 28,000 sq km split into two areas. The first area will be on the shelf with water depths of about 200m but at least 77km from shore and the second area will be in deepwater with depths of about 3,000m. The Pelotas Basin extends from Uruguay in the south to the Santos Basin in the north with an approximate area of 210,000 sq km but has no production or hydrocarbon reserves and only four currently licensed blocks. Spectrum in May 2019 was acquired by TGS. By 17 May 2015, Spectrum completed shooting its 12,000km, 2D multi-client seismic survey in the Pelotas Basin. The survey began shooting in February and was designed to infill both a previous acquisition by Spectrum covering 7,500km in 2013 and 12,000km of older data in the region reprocessed by Spectrum in 2014. The plan was to produce 31,000km of new high-quality data in the basin. The BGP Challenger performed that shoot also. 
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