News
Petrobras acquired all batches; estimated collection is of BRL 25 billion. Alipio Ferreira, Petrobras’ foreign trading executive manager, and Eduardo Gerk, PPSA’s CEO, ultimately decide to execute the results of the auction
São Paulo, November 26, 2021 -B3 holds auction on behalf of Pré-Sal Petróleo S.A. (PPSA) to trade oil of the Federal Government from fields such as Búzios, Sapinhoá, Tupi and Mero''s Development Area.
In total, 55.7 million barrels from the Federal Government''s oil portion were traded, with an estimated collection of BRL 25 billion in five years. Auction was intended to select the most advantageous proposal following criterion of best differential on the Reference Price set by ANP when executing agreements to trade oil of the Federal Government.
Loads were auctioned in four batches one to each producing field, and all were acquired by Petrobras. In the first batch (Búzios), the company submitted a goodwill bid of BRL 65.00 against the Reference Price (PR) of Búzios oil as set out by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), in a contract contemplating approximately 6.6 million barrels for 36 months.
Batch
Estimated Amount (BBL)
Contractual Term (months)
Winning Bidders
Amount (by m³)
Búzios
6.6 million
36
Petrobras
PR + BRL 65
Sapinhoá
2.4 million
60
Petrobras
PR + BRL 7.35
Tupi
3.3 million
60
Petrobras
PR + BRL 3.35
Mero
43.4 million
36
Petrobras
PR + BRL 52
The second auctioned batch was of Sapinhoá. For this one, Petrobras offered a goodwill bid of BRL 7.35 against the PR of Sapinhoá set out by ANP, concerning approximately 2.4 million barrels in a 60-month contract.
With the goodwill bid of BRL 3.35 against the PR set out by ANP, Petrobras won the auction related to the third batch, Tupi, with contract for approximately 3.3 million barrels for 60 months.
Finally, the fourth batch, Mero Development Area, was won by Petrobras with a goodwill bid of BRL 52.00 against the PR set out by ANP in a contract of approximately 43.4 million barrels for 36 months.
It is important to highlight volumes are estimations of future petroleum portion of the Federal Government in such fields, which include uncertainties associated with the process. It means that, upon acquiring a batch, the buyer has available the whole load assigned in the period, even if it is more or less than the volume stipulated in the call to bid.
"All batches were out in the first step of the auction and with goodwill, which is very positive. We are currently bidding 55 million barrels, but there many more to come. Hopefully it will be only the beginning of several achievements we are aiming for the decade", said Eduardo Gerk, CEO of PPSA.
"This is the 3rd auction of Petroleum of the Federal Government held here at B3 by PPSA, in charge of managing contracts to trade oil, natural gas and other fluid hydrocarbons of the Federal Government. We, at the Brazilian''s stock exchange, are proud of being chosen by PPSA and by the Ministry of Mines and Energy as partners to hold this auction and our doors are open to support initiatives such as this which may help in bringing private investments, efficiency, productivity and development to the country", said Mônica Salles Lanna, B3''s Bidding Process Manager.
Clickhereand watch the auction''s video.
About B3
B3 S.A. (B3SA3) is one of the main financial market infrastructure companies in the world and one of the largest in terms of market value among global leaders of the stock exchange sector. It connects, develops and enables the financial and capital markets and along with clients and society, potentiates the growth of Brazil.
It works in environments such as stock and over-the-counter, in addition to offer products and service to the financial chain. It is headquartered in São Paulo and has offices located in Chicago, London, Singapore and Shanghai, and performs important tasks in the market by fostering the best practices in corporate governance, risk management and sustainability.
B3. With the market, towards the future.
About PPSA
PPSA is a federal and state government-owned company bound to the Ministry of Mines and Energy (MME) and was created in 2013. The company is engaged in three fronts: managing Production Sharing Agreements, representing the Federal Government in Agreements to Individualize Production and managing the portion of oil and gas owned by the Federal Government.
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PPSA''S PRESS OFFICE