Published in 17/02/2022

Production Sharing Agreements in the Pre-salt Polygon presented a production of 62 million barrels of oil in 2021, almost four times the volume reached in 2020. The milestone, the highest of the historical series since 2017, was reached by means of four agreements: Libra (Mero Development Area), Surrounding Area of Sapinhoá, Tartaruga Verde (Southwest) and Búzios. It was the production of surplus volumes from Búzios onerous assignment starting as of September that leveraged the results of the year. In only four months, Búzios produced more than half of the volume recorded in 2021.

Federal Government was entitled to a portion of 3.9 million barrels of oil in the year, 35% more than 2020. The highest contribution came from the Surrounding Area of Sapinhoá, which answered for 2 million barrels. The following is the Mero Development Area with 1.2 million barrels and Búzios with 700.000 barrels. Information concerns the edition of February from the Monthly Bulletin of Production Sharing Agreements, disclosed today by Pré-Sal Petróleo (PPSA), manager of contracts, with data from December.

From 2017 to December 2021, the accrued production under production sharing regime totalized 110 million barrels of oil. From that total, the Federal Government was entitled to a production of 11.6 million barrels, in which 50% came from Mero Development Area.

Natural Gas

Natural gas production was also a record in 2021, totalizing 187 million m³ available for trading by agreements related to Surrounding Area of Sapinhoá, Tartaruga Verde (Southwest) and Búzios. Volume is 108% above the one produced in 2020 (89.7 million in cubic meters). The portion of the Federal Government in 2021 was of 50 million m³ of natural gas, 55% higher than 2020.

From the very starting of the historical series, the accrued natural gas production with a commercial exploit of the three agreements totalizing 388 million m³, where 101.9 million m³ belong to the Federal Government.

The whole production of the Federal Government is traded by PPSA. Resources are earmarked for the National Treasury directly benefitting the Brazilian society.

Production of December

In the month of December, total production had a daily average of 466,000 barrels of oil per day (bpd) in four sharing agreements, being 426,000 bpd in Búzios, 29,000 bpd in Libra, Mero Development Area, 6,000 bpd in the Surrounding Area of Sapinhoá and 5,000 bpd in Tartaruga Verde (Southwest). Production was 5% higher than the previous month due to resumed production in the Mero Development Area, following the start of the production of the Anticipated Production System 2 (SPA-2).

Daily average of the total surplus of oil belonging to the Federal Government in the four CPP''s was of 14,200 bpd. From these, 6,000 bpd were related to CPP of Búzios, 4,400 bpd to CPP of Libra in Mero Development Area and 4,300 bpd to CPP of the Surrounding Area of Sapinhoá. In CPP Southwest of Tartaruga Verde, the exceeding oil of the Federal Government is still intended to "Settle Accounts" with the operator as established by the Agreement to Individualize Production (AIP). In general, there was an increase of 40% regarding the previous month, due to startup of SPA-2 in Mero.

Concerning natural gas, total production with commercial exploit had a daily average of 1,440 thousand m³/day in the three sharing agreements, in which 1,260 m³/day in the CPP of Búzios, 146 thousand m³/day in the CPP of the Surrounding Area of Sapinhoá and 34 thousand m³/day in the CPP of Tartaruga Verde (Southwest). In comparison to the previous month, the available gas volume increased by 10%.

Total daily average of exceeding natural gas of the Federal Government was of 112,000 m³/day, in which 94,000 m³/day related to CPP of the Surrounding Area of Sapinhoá and 18,000 m³/day to CPP of Búzios. Concerning the previous month, that daily average had a reduction of 7% due to scheduled stop of FPSO Cidade de São Paulo in the Surrounding Area of Sapinhoá. In the field of Tartaruga Verde (Southwest), the exceeding gas of the Federal Government is still intended to "Settle Accounts" with the operator as determined by the AIP. Mero Development Area, so far, has no expectation to trade natural gas.