Petrobras Receives Additional Payment of R$ 313 Million From TotalEnergies for Pre-Salt Block Atapu

Written by Ruth Rodrigues

Published on 24/01/2023 at 15:36

Foto: Petrobras

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The Additional Payment of R$ 313 Million by TotalEnergies Is part of an Earnout Related to the Atapu Block. The Pre-Salt Area of the Santos Basin Was Auctioned by Petrobras in December 2022 in a Consortium with the Company.

The state-owned company Petrobras announced on Tuesday, (01/23), the receipt of an additional payment from TotalEnergies related to the Atapu Block, located in the pre-salt region of the Santos Basin. This is an earnout of R$ 313 million paid to the state-owned company regarding the future profits from the block. The company acquired the area in 2022, in a consortium with TotalEnergies and Shell.

TotalEnergies Makes Additional Payment of R$ 313 Million Related to an Earnout of the Atapu Block in the Pre-Salt Region of the Santos Basin

Petrobras received a strong cash boost at the beginning of this week when TotalEnergies made a payment of R$ 313 million related to an earnout for the Atapu Block.

An earnout is a payment portion corresponding to part of the acquisition price of a company and linked to compensation for the selling partners regarding the company’s future profits.

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Petrobras Acquired the Pre-Salt Area of the Atapu Block in a Consortium with Shell and TotalEnergies in Late 2022

In December 2022, Petrobras, in a consortium with Shell and the French TotalEnergies, won the Atapu field in an auction for the onerous assignment held by the National Petroleum Agency (ANP).

The purchase of the Atapu Block took place under the production sharing regime, in which the winning companies are those that offer the State, from a minimum fixed percentage, the highest percentage of oil and natural gas produced.

Currently, the company holds a 52.5% stake in the block, while Shell and TotalEnergies own 25% and 22.5%, respectively.

During April 2022, Petrobras received R$ 5.26 billion from Shell regarding its 25% stake in the Atapu Block.

During the same period, TotalEnergies made a compensation payment of R$ 4.7 billion to Petrobras for its participation in the region.

Now, the additional payment from TotalEnergies to Petrobras for the Atapu Block ensures even more revenue for the state-owned company concerning the pre-salt area of the Santos Basin.

Petrobras Receives Additional Payment of R$ 313 Million From TotalEnergies for Pre-Salt Block Atapu

The Additional Payment of R$ 313 Million by TotalEnergies Is part of an Earnout Related to the Atapu Block. The Pre-Salt Area of the Santos Basin Was Auctioned by Petrobras in December 2022 in a Consortium with the Company.

TotalEnergies Makes Additional Payment of R$ 313 Million Related to an Earnout of the Atapu Block in the Pre-Salt Region of the Santos Basin

Petrobras Acquired the Pre-Salt Area of the Atapu Block in a Consortium with Shell and TotalEnergies in Late 2022

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Petrobras Receives Additional Payment of R$ 313 Million From TotalEnergies for Pre-Salt Block Atapu

The Additional Payment of R$ 313 Million by TotalEnergies Is part of an Earnout Related to the Atapu Block. The Pre-Salt Area of the Santos Basin Was Auctioned by Petrobras in December 2022 in a Consortium with the Company.

TotalEnergies Makes Additional Payment of R$ 313 Million Related to an Earnout of the Atapu Block in the Pre-Salt Region of the Santos Basin

Petrobras Acquired the Pre-Salt Area of the Atapu Block in a Consortium with Shell and TotalEnergies in Late 2022

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Australia installs giant concrete structures on the seabed 800 meters from the shore to create an ocean intake for desalination that will draw in saltwater and produce 30 million liters of drinking water per day.

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While cities spend fortunes patching potholes and tons of plastic become waste, the Netherlands transforms over 218,000 recycled cups into a modular bike path that can conceal drainage, cables, and pipes.

A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

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