Petrobras on Production Sharing Contracts

Source Company Press Release
Company Petrobras (IFRS US$ Current), Petronas, QatarEnergy, Shell Plc, TotalEnergies SE
Tags Country: Brazil, M&A: Licensing Round, Upstream: Upstream News
Date May 31, 2023

Petrobras informs that it signed today the Production Sharing Contracts (PSC) of the 1st Cycle of the Permanent Offer Bidding Round, held through a public session on 12/16/2022, for the blocks of (i) Água Marinha, in partnership with TotalEnergies (30%), QatarEnergy (20%) and  Petronas (20%), (ii) Norte de Brava, where Petrobras acquired the block in its entirety, and (iii) Sudoeste de Sagitário, a block that was acquired with a 60% stake in consortium with Shell (40%).

The signing of these contracts reaffirms Petrobras' focus on the exploration and production of profitable assets and strengthens the company's profile as the main operator of oil fields located in deep and ultradeep waters, potentializing the recomposition of reserves for the future.

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