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Union’s Oil Production Reached 128 Thousand Barrels Per Day in May, Up 13.2% Driven by Itapu and Mero, According to PPSA.
In May, the Union achieved an average of 128 thousand barrels of oil, according to data released this Tuesday (15/7) by Pré-Sal Petróleo S.A. (PPSA). This volume, pertaining to production sharing contracts (PSCs) and Individual Production Agreements (IPAs), represents a growth of 13.2% compared to April. The main factor for this increase was the rise in production at the Itapu field, located in the pre-salt region.
This data reflects the strengthening of the Union’s participation in oil exploration in Brazil, mainly through contracts under the sharing regime — a model that ensures a share of the produced oil directly to the State.
Union Production in Sharing Contracts Grows Strongly
Within the PSCs, total production from the fields reached 1.25 million barrels of oil per day in May. Of this total, the Union accounted for 117 thousand bpd.
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The Mero field was the major protagonist, responsible for 81% of the Union’s oil slice in this segment.
Since the beginning of the historical series in 2017, sharing contracts have accumulated 1.21 billion barrels of produced oil.
Of this amount, 80.28 million barrels were allocated to the Union, reinforcing its strategic role in the collection of energy resources.
Individualization Agreements Also Ensure Stable Revenue for the Union
In the so-called IPAs, the daily average of barrels of oil allocated to the Union remained stable, above 11 thousand bpd.
The highlight, once again, was the Mero field, which alone accounted for 87% of this production in May.
Since 2017, the total accumulated oil for the Union in the IPAs amounts to 7.89 million barrels. Natural gas also contributed to the balance: the Union had a right to 6 thousand m³ per day, originating exclusively from the Tupi IPA. The total reaches 82 million m³.
In addition to oil, natural gas exported under sharing contracts reached 4.94 million cubic meters per day in May. Of this total, 99.4 thousand m³ daily were allocated to the Union.
The Búzios field was responsible for 95% of this exported volume, consolidating its relevance in the sector.
About PPSA
PPSA, a state-owned company linked to the Ministry of Mines and Energy, has been managing sharing contracts and representing the Union in unitization agreements since 2013. Currently, it administers 24 active contracts in the Pre-Salt Polygon area.
Focusing on maximizing economic results for the Union, the company plays a fundamental role in consolidating the sharing model as a driver of value generation for the country. As the institution itself highlights, it is “an engaging mission and a noble purpose.”
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