Brazilian oil giant Petrobras has exercised preferential bidding rights for two pre-salt fields, which will be offered to investors in a second round featuring surplus volumes in the Santos basin's transfer-of-rights area.

Petrobras in late 2019 won the rights to produce additional volumes from the Buzios and Itapu pre-salt fields offshore Brazil, but the government failed to auction off surplus resources in the Atapu and Sepia developments.