The development stages:Exploration drilling/2013-09.ES-M-699 is a deepwater block with an area of 721 square kilometers in the SES-AP2 sector of the Santos basin. Petrobras was awarded 40% of the operating rights, alongside Statoil (35%) and Total (25%). The work commitment is three wells and 3D seismic. Brazil's 11th bidding round requires 37% local content for the exploration phase and 65% for the development phase. According to regulator ANP, 353mn reais will be invested in the minimum exploratory program.