PPSA completes seven years

Pré-Sal Petróleo (PPSA) celebrates seven years of activities today, reaching a value of R$ 2.59 billion in revenue for the Union. The amount considers the sale of oil and gas from the Union since November 2017 – start of production of the NW of Libra evaluation area, in a long-term test – until September 2020, and the expenses and volumes equalization agreements entered into by PPSA in deposits shared with non-contracted areas.

Of this total, R$ 1.29 billion corresponds to revenues from the sale of oil from the Mero Development Area, the Individualized Area from ​​the Entorno de Sapinhoá and the natural gas from Tupi, the Entorno de Sapinhoá and the Sudoeste de Tartaruga Verde. Another R$ 1.3 billion comes from credits obtained with Equalizations of Expenses and Volumes. The funds were immediately transferred to the National Treasury Single Account.

Production sharing has been in place at the Pre-Salt Polygon since 2013. Currently, 17 contracts operate under this regime. Until September of that year, the volume of hydrocarbons extracted in the production sharing contracts of Libra, Sudoeste de Tartaruga Verde and Entorno de Sapinhoá (the only ones in production) is 43.6 million barrels of oil. Of this total, the accumulated portion of the Union’s oil surplus is 7 million barrels of oil, a production that has been commercialized by PPSA.

According to estimates from the company’s Strategic Planning area, royalties from production sharing and the taxes collected by producing companies result in another R$ 2.4 billion for public coffers.

In addition to managing production sharing contracts, PPSA represents the Union in the Individualization of Production Agreements (AIP) and is responsible for marketing the Union’s oil and gas. The company has 58 employees and its mission is to maximize economic results of the Union in all its fronts.

Source: TN Petróleo

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