Hydro was bidding together with Petrobras and Repsol. Each of these companies has one operator block: S-M 1105, 1109 and 1233.
Hydro is the operator of S-M 1233 with a 40 percent working interest. In the other two blocks the company has a 30 percent working interest.
Each of the blocks covers 720 square kilometers, located about 200 kilometers off Sao Paulo at water depths from 1,000 to 2,000 meters.
Hydro has a long-term interest in Brazilian offshore activities and recently opened a new office in Rio.
Hydro is already active in Brazil with a 50 percent interest in the Peregrino field, where the company is operator during the project development phase.
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