For the first time! China National Offshore Oil Corporation wins bid for Brazil's 12 million barrels of crude oil trade contract resources

On July 31st local time, the 2025 crude oil tender of Brazil's Pre Salt Oil Management Company (PPSA) was in full swing on the S ã o Paulo Stock Exchange in Brazil. After fierce competition with international oil companies such as Petrobras, China National Offshore Oil Corporation (CNOOC) has successfully won the bid for a long-term contract resource for 12 million barrels of crude oil trading in the world's third-largest sub salt ultra deepwater oil field, Mero.

The Brazilian sub salt oil management company participating in this bidding has abundant sub salt oil field resources. Salt bearing oil fields account for about one-third of global oil reserves and are characterized by ultra deep water, deep reservoirs, difficult development, and high production. This bidding involves a total of 37.5 million barrels of crude oil resources for four targets in the Mero and Buzios oil fields, attracting widespread attention from major oil companies around the world. After layers of screening, a total of 10 companies have finally obtained the bidding qualification.

According to Reuters, Chinese companies have won a resounding victory in this bidding. The relevant business person in charge of CNOOC International Trade Company, a subsidiary of CNOOC, introduced that "during the bidding preparation stage, we fully utilized the advantages of CNOOC's integrated collaboration, and all business teams jointly discussed and repeatedly studied, fully exploring bidding strategies." We carefully polished the bidding plan with calculated evidence and controllable risks, adhered to the established strategy in the fierce on-site bidding process, reasonably planned and scientifically bid, and ultimately ensured the successful winning of the ideal bid at a competitive price.

It is reported that this is the first time that China National Offshore Oil Corporation (CNOOC) has participated in the annual long-term contract bidding in Brazil and won the bid. CNOOC has obtained more abundant and high-quality overseas crude oil trade resources, further enhancing its global "sales, trade, storage, transportation and financing" capabilities. This is a new step taken by CNOOC in international energy cooperation, reflecting its strength and influence in the international oil and gas field.

In addition, CNOOC has continued to deepen energy cooperation with countries along the "the Belt and Road" to achieve mutual benefit and win-win results with co building countries. We will steadfastly promote the integration of global oil and gas resources, the connectivity of advanced technology and equipment, and the smooth flow of oil and gas trade, striving to create greater achievements and showcase greater accomplishments in international energy cooperation.

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