The Brazilian National Petroleum Agency (ANP) has qualified eight companies to participate in the country’s first bid round featuring pre-salt acreage under the so-called permanent offer initiative.

Late last year, the Brazilian government transferred 11 pre-salt exploration areas lined up for scheduled auctions to the open-door mechanism in an effort to improve competitiveness.

Created in 2017 as part of an extensive review of Brazil’s upstream sector, the permanent offer was designed to continue making acreage available to generate more interest in the country’s oil and gas sector.