Published in 31/08/2018

São Paulo, August 31, 2018 -Today (31/8), at B3, Pré-Sal Petróleo sold the production coming from the Area of Development of Mero (Libra Sharing Agreement) and from the Lula and Sapinhoá Fields, in the Santos basin. "I consider the result of this auction an absolute success. We were able to sell the three lots, the lots from Mero and Sapinhoá are three-year contracts and that of Lula is for one year, generating a future revenue to the order of 3,260 billion Reais for the coffers of the Union, by means of the Social, education and health fund", celebrated the CEO of Pré-Sal Petróleo, Ibsen Flores Lima.

Petrobras, as a bidder, showed an interested in the contracts coming from two lots. The contracts of the lots from Mero and Sapinhoá were sold for the Petroleum Reference Price (PRP) published by the National Petroleum Agency (ANP). The contract for the Lula Field was awarded to the bidder Total E&P, in a 12-month contract, with a goodwill of R$ 1 per cubic meter of oil over the reference price (PRP). The winners will pay the Union at each load removal, according to the price offered.

About the lots

Mero Development Area

In 36 months, the production share of the Federal Government is estimated to be 10.6 million barrels of oil. Sharing agreement executed in December 2013. At 170 kilometers from the coast of the state of Rio de Janeiro, the area is part of the Santos Basin and is exploited by a consortium formed by Petrobras (operator, with 40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC (10%).

Sapinhoá

In 36 months, production share of the Federal Government is estimated to be 600 thousand barrels of oil. Sharing agreement executed on January 30, 2017. The area is part of the Santos Basin and is exploited by a consortium formed by Petrobras (operator, with 45%), Shell (30%) and Repsol (25%).

Lula

In 12 months, production share of the Union is estimated to be 1.1 million barrels of oil. Contract under the concession regime. The Lula field is the principal producer of the pre-salt and is located in the Santos Basin. Since 2014 it has been the object of a Production Unitization Agreement (AIP) between the consortium and the Union. Located in the Santos Basin, it is operated by Petrobras (65%) with Shell (25%) and Repsol-Sinopec (10%) as partners.

To learn more about the operation, access the Bidding Announcement.

About Pré-Sal Petróleo

Pré-Sal Petróleo is a publicly held company linked to the Ministry of Mines and Energy (MME), created in November, 2013, whose mission is to manage the production sharing contracts and the commercialization contracts of oil, natural gas and other hydrocarbons fluids of the Federal Government and to represent the Federal Government in the unitization procedures of the production and the agreements resulting therefrom, according to the legal framework of the production sharing regime.

The company is lean for excellence and combines the classic functional structure by projects, seeking the best performance in meeting the objectives established in the Law, with a focus on contract management and better use of resources.

Information for the press

Andréa Dunningham
21-35131764/994312991
andrea.dunningham@ppsa.gov.br