On 6 November 2019, the consortium of Petrobras, CNODC, and CNOOC bid on and were granted a preliminary award for the 852.21 sq km Buzios block in the deep-water offshore Santos Basin from the 2019 ToR Excess Volumes PSC Bid Round.     There were no other bids for the block.        The consortium will pay the fixed bonus of USD 17.09 billion at 1 USD to 3.99 BRL and it offered the minimum government take of 23.24%.      Once the final award is granted, the consortium will have the rights to produce the excess volumes of approximately 7.2 Bboe in the Buzios block.        Petrobras is operator with 90% working interest, CNODC holds 5% working interest, and CNOOC holds 5% working interest.
Petrobras was granted a preliminary award for Itapu field (100%) and Buzios field (90% op, CNOOC 5%, CNODC 5%), biggest area on offer ANP's 2019 ToR Excess Volumes PSC round (aka Transfer of Rights) in the Brazilian pre-salt.