Pré-Sal Petróleo (PPSA) records record collection this year. The expectation is that the values will increase significantly in the coming years.
In the first months of this year, Pré-Sal Petróleo (PPSA) raised billions from the sale of gas and oil that is the right of the Union, reaching R$ 1,23 billion. According to a statement from the state-owned company, the amount collected in 2022 is a record, surpassing the amount collected in the year by 1% past.
Union raises billions with PPSA contracts
The oil from the contracts for the pre-salt fields of Mero, Tupi and Sapinhoá was sold to Petrobras, which won the cargo in an auction held on the Stock Exchange, the B3. Another 19 loads of 500 barrels each are expected to be sold by the end of this year, representing more profit for the Union.
Active since 2013, PPSA has already raised BRL 5,21 billion for the Union, BRL 3,9 billion from sales and BRL 1,3 billion from Equalization of Expenses and Volumes (EGV).
Pré-Sal Petróleo (PPSA) was created in 2013. The purpose of the state-owned company is to manage production sharing contracts and manage the sale of oil and natural gas. In addition, she works representing the Union in the agreements.
Government considers privatizing PPSA
Last month, Adolfo Sachsida, Minister of Mines and Energy, handed Paulo Guedes, Minister of Economy, a request for him to begin studies for the privatization Petrobras and Pré-Sal Petróleo SA (PPSA). It is worth noting that PPSA is already included in the Investment Partnerships Program.
Experts point out that, in case of approval, the sale of the Union's rights in sharing regime contracts could generate billionaire revenue for the Union's coffers in 2022.
According to FGV IBRE, the Union is expected to collect around BRL 334 billion between 2023 and 2030 with the PPSA sharing regime contracts. Bráulio Borges, a researcher at the Institute, highlighted that it is unreasonable for the government to anticipate the values at this time.
“It's an oil that hasn't even come up from the bottom of the sea... Whoever is going to buy these contracts will look at the projection of oil prices over the next ten years, and the consensus projection is that oil will be around 70 dollars a barrel in the average and long term, after discounting dollar inflation,” he told Reuters.
The proposal for studies for the privatization of Petrobras and PPSA takes place amid moves for an eventual privatization of the state-owned company. On the other hand, President Jair Bolsonaro himself points out that the privatization of the state-owned company is very difficult and time-consuming, and it can take up to four years to get off the ground and become a reality.
