On 27 October 2017 Petrobras and partners BP and CNODC were granted a preliminary award for being the high bidder of the Peroba block in the 3rd PSC Pre-Salt Bid Round.Â  Petrobras as operator with 40% working interest exercised its preferential rights for the block and with 40% partner BP and 20% partner CNODC, offered the highest state take of profit oil at 76.96% and USD 607.90 million in total fixed bonus to be paid to the Brazilian government based on the USD to BRL exchange rate of the day of 1USD/3.29 BRL.Â  There were two other bids for the block representing the most contested block in the round.Â  There was a close 2nd place bid for the block by the consortium of Petrobras (30%), ExxonMobil (50%), and Statoil (20%) offering a state take bid of 65.64%.Â Â  There was a 3rd place bid for the block by the consortium of Petrobras (30%), CNOOC (20%), QPI (20%), and Shell (30%) offering a state take bid of 61.07%.Â  The PSC contract has a seven year exploration-evaluation phase and the minimum work program is to drill one exploration well. The minimum financial guaranty for the three year period is USD 47.95 million which is less than the estimated cost of drilling a pre-salt exploration well. Â 
Petrobras (40%), BP (40%), CNOOC (20%) prelim. awarded Peroba block during 3rd PSC Pre-Salt deepwater round. 