SALVADOR DE BAHIA, BRAZIL (By Pedro Silva, Energy Analytics Institute, 4.Dec.2025, Words: 307) — Petrobras acquired the rights and obligations of the union in Mero and Atapu units at the non-contracted areas auction held on 4 Dec. 2025 by Pré-Sal Petróleo S.A. (PPSA).
Petrobras’ participation in the PPSA non-contracted areas auction is aligned with the company’s long-term strategy, reaffirmed in the Business Plan 2026-30, which foresees the replacement of its oil and gas reserves with economic and environmental resilience.
The consortium formed by Petrobras (80% WI), in partnership with Shell Brasil Petróleo Ltda (20% WI), acquired the union’s 3.500% participation in the production sharing agreement of the Mero shared reservoir, offering a final amount of R$ 7,791,844,310.00, the Rio de Janeiro-based company announced on 4 Dec. 2025 in an official statement.
With this acquisition, Petrobras increases its participation in the Mero shared reservoir from 38.60% to 41.40%.
Additionally, also in partnership with Shell (26.76% WI), Petrobras (73.24% WI) acquired the union’s 0.950% participation in the production sharing agreement of the Atapu shared reservoir, offering a final amount of R$ 1,001,456,652.00.
With this acquisition, Petrobras increases its participation in the Atapu shared reservoir from 65.687% to 66.38%.
The amount to be paid by Petrobras in Dec. is R$ 6.97bn and the contracts will be signed by Mar. 2026. The disbursement was already planned by the company, and although the volumes were not forecasted, they are within the margin of ±4% of the production curve projection in the Business Plan 2026-30.
This auction was supported by Law No. 15,164, dated 14 Jul. 2025, which amended Law No. 12,351, dated 22 Dec. 2010, authorizing the union to dispose of its rights and obligations arising from production sharing agreements in non-conceded or non-shared areas in the pre-salt region.
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By Pedro Silva reporting from Salvador de Bahia. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
