The round, which will take place on 21 October, requires bidding consortia to have at least 30% participation from Petrobras, according to the nation's National Petroleum Agency (ANP).

The state-led oil company will only be allowed to participate in collaboration with other companies in bidding for the 1547-square kilometre block in the Santos basin.

Consortia must also include at least one Operator A, or a company authorised to operate in Brazil's deep waters, and may contain up to five other bidders, according to ANP documents.

Operator