Brazilian oil and gas auctions draw Canadian and Kuwaiti newcomers

Brazil's National Petroleum Agency (ANP) has released the list of registrants for its upcoming oil and gas auctions, highlighting the entry of Canadian firm Perthro and Kuwait’s Kufpec into the permanent offer cycles. Scheduled for October 2026, these rounds aim to expand exploration and production across several Brazilian basins through both concession and production-sharing models. The participation of these international newcomers alongside established majors signals continued global interest in Brazil's diverse upstream opportunities, ranging from onshore assets to pre-salt offshore blocks.

The upcoming sixth cycle of the permanent concession offer (OPC6), scheduled for October 7, features 46 registered companies, including the Canadian independent Perthro (Canada) Inc. Controlled by Sweden’s Perthro AB, the company is targeting low-cost onshore assets as part of an international expansion strategy that began with the acquisition of assets in Alberta, Canada. For the OPC6 round, the ANP is offering five areas with marginal accumulations and 495 exploration blocks spread across several basins, including Campos, Santos, Potiguar, and Espírito Santo.

Joining the list of international participants is the Kuwait Foreign Petroleum Exploration Company (Kufpec), which has registered for both the OPC6 and the fourth cycle of the permanent production sharing offer (OPP4). Kufpec recently established its presence in the Brazilian market in 2026 by acquiring a 20% stake in the Orca project within the Santos Basin pre-salt from Shell. While Shell remains the operator of the Orca project with a 50% stake and Ecopetrol holds 30%, Kufpec’s registration for the upcoming auctions underscores its intent to expand its footprint in South America.

The OPP4 cycle has attracted 19 registered companies, primarily consisting of major global players such as BP Energy, Chevron, Shell, TotalEnergies, and the state-owned Petrobras. This specific round will offer 23 blocks located in the prolific Campos and Santos basins. To participate in the bidding for either OPC6 or OPP4, registered firms must submit a declaration of interest and offer guarantees by July 21. The list of registrants also includes several Brazilian companies with limited previous experience in permanent offers, such as Ágil Energia and Azevedo e Travassos Petróleo, indicating a broadening of the domestic competitive landscape.