Brazil held a licensing round just over 6 months ago where over 20 blocks were up for grabs in the Santos basin. This in addition to the many existing blocks in the basin. Shell took 5 alone. The worlds biggest operators all have blocks here. equinor, shell, petrobras, conocco. etc.
The basin alone produces ever 70% of Brazils production.
The entire Santos basin is less than half the size of IVZ License area
Ann: 7-Fold increase in Permit & Sovereign Wealth Fund Agreement, page-157
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