October 10, 2019 / 1:57 PM / 13 days ago

BP wins offshore oil block in Brazil with $75 mln bid

RIO DE JANEIRO, Oct 10 (Reuters) - BP PLC won the production and exploration rights for Brazil’s offshore S-M-1500 block in the Santos Basin on Thursday, paying the government a signing bonus of roughly 308 million reais ($74.6 million).

Relatively major blocks in the Santos Basin received no offers in the bidding round in Rio de Janeiro, although there was significant interest in the nearby Campos Basin.

($1 = 4.13 reais)

Reporting by Gram Slattery, Marta Nogueira and Rodrigo Viga Gaier; editing by Jason Neely

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