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Petrobras and Total Have Just Acquired 3 Blocks of Pre-Salt Oil in PPSA Auction

Written by Paulo Nogueira
Published on 31/08/2018 at 15:07
Updated on 31/08/2018 at 16:56
Petrobras Total PPSA pré-sal
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The Mero and Sapinhoá Fields Went to Petrobras, While the French Company Took the Lula Field in This Friday’s Auctions

Petrobras and Total jointly acquired 3 lots of pre-salt oil belonging to the Union in the auction conducted by PPSA, which took place today (Friday) in São Paulo. Brazil’s state oil company secured 3 years of production from Sapinhoá and Mero. The French operator holds 1 year of production related to the Lula field.

According to the Union, the Mero Field area is expected to produce about 10.6 million barrels of oil in fixed volume for the institution. For Sapinhoá, the estimated quantity in the same timeframe is 600 thousand barrels of oil. Total will have to provide 1.1 million barrels from its production during the Lula Field period.

Four oil companies participated in these PPSA auctions: Petrobras, Shell, Repsol Sinopec, and Total. It is noteworthy that Pré-Sal Petróleo (PPSA) is a non-dependent Brazilian state company.

Petrobras States It Will Make a Profit This Quarter

The new president of Petrobras, Ivan Monteiro, presents the estimated results for the next quarter as the best in terms of profit for the state company since the onset of Operation Lava-Jato. The predominant factor is the rising dollar, making the national oil price competitive and definitively exiting the crisis that has been plaguing Brazil for four years. Learn more about it and the details that justify these profits here.

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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