The development stages:Seismic/2013-09.FZA-M-324 is a 767 square kilometers deepwater license area off northern Brazil, and it is part of the two concession blocks owned and operated by BHP Billiton (100%), acquired in the 11th bidding round. Local content required by Brazilian hydrocarbons regulator ANP is 37% during exploration and 55% during development. According to ANP, 26mn reais will be invested in the minimum exploratory program (PEM).