The TCU Recommended Structural Changes at PPSA, Pointing Out Weaknesses in Personnel, Risk Management, and Governance. Court Sees Risk to Billion-Dollar Federal Revenue from Pre-Salt Oil.
The Federal Court of Accounts (TCU) issued an important alert on Wednesday (25) regarding the need for profound changes at Pré-Sal Petróleo S.A. (PPSA). The state-owned company, responsible for managing production sharing contracts and commercializing the oil and gas of the federal government, is at a crucial moment, as revenue from the pre-salt is expected to grow exponentially in the coming years.
According to projections presented by the company itself, the auctions for oil loads belonging to the federal government are expected to generate R$ 466 billion between 2024 and 2033. When combined with taxes, royalties, and special participations, the amount exceeds R$ 1 trillion.
TCU Recommendations to Address Risks
To ensure that this optimistic scenario is not compromised, the TCU recommended a series of measures. Among them, the following stand out:
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• Strengthening the technical team at PPSA, which is currently considered insufficient.
• Adopting improvements in the analysis and approval of the so-called cost in oil, a mechanism that defines the volumes of oil retained by oil companies to cover operational expenses.
• Creating stricter criteria for selecting executives, requiring more specialized technical profiles.
• Reevaluating the risk matrix and strategic planning, avoiding the state-owned company from assuming functions beyond its structural capacity.
Furthermore, the report from the technical area of the TCU (AudPetróleo) pointed out that PPSA performs well in contract management but faces significant risks due to its still incomplete structure. Currently, the company has only 64 employees, a number far below the authorized limit of 163.
This deficit is considered critical, as PPSA manages 24 Production Sharing Contracts (CPPs), in addition to 10 Production Individualization Agreements (AIPs) and other processes under evaluation. Each contract requires active employee participation in strategic decisions, which puts pressure on an already reduced team.
In his vote, rapporteur Minister Augusto Nardes was categorical: “The main finding of the audit concerns the lack of human resources at the state-owned company, which may compromise the quality and continuity of its activities.”
New Assignments May Increase Weaknesses
Another point of concern is the possibility of PPSA accumulating new responsibilities, such as managing the commercialization of the federal government’s natural gas and even eventual participation in the refining market. For the TCU, such activities do not find support in the current structural stage of the state-owned company and may aggravate already identified risks.
The AudPetróleo report reinforces this warning: “The situation may worsen with the addition of new assignments to PPSA that may arise from the new policy for the commercialization of the federal government’s gas and any eventual proposal for action in the refining market.”
Despite the weaknesses, the TCU recognizes that PPSA has well-structured management processes and plays a strategic role in the billion-dollar revenue of the federal government from the pre-salt. Precisely for this reason, the tribunal advocates immediate measures to reduce operational risks and strengthen the governance of the state-owned company.
With projected figures and the relevance of the contracts under its management, PPSA stands as a central piece of Brazil’s energy and fiscal policy. However, as highlighted by the control body, this position demands operational capacity to meet the challenges ahead.

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