Brazil's upstream exploration appeal amid the accelerating impetus towards the energy transition faces its first test later this year, with the auction of 92 offshore oil blocks in the Campos, Santos, Pelotas and Potiguar basins planned for 7 October. Many big oil companies such as Shell have a prominent foothold in Brazil's pre-salt sector, but their level of interest in taking on more acreage is unclear as they pivot toward greener asset portfolios. As with all concession model rounds since 2017, the 17th round is aimed at companies interested in areas with pre-salt potential but governed by the industry-preferred concession contract.
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