On Wednesday, October 7, 2026, PRIO S.A. (PRIO3) reported that it won, in the Production Sharing Permanent Offer (OPP) auction held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the Magnetita and Hematita blocks under the production sharing regime, with an oil surplus of 32.80% and 7.18% for the Federal Government, respectively.
The acquired blocks are located in the northern area of the Campos Basin, near the Wahoo and Frade Fields. The company will assess the prospective resources in these areas which, in the event of exploration success, may be developed through a tieback to the FPSO Valente, located in the Frade Field.
The Magnetita block carries a signing bonus of R$ 93 million, while the Hematita block has a signing bonus of R$ 1.6 million. The minimum exploration program will be carried out over up to seven years, with the acquisition of 3D seismic data and subsequent drilling of an exploration well.
PRIO stated that it will keep the market informed about the progress of evaluations and potential developments in Magnetita and Hematita.
