Gov’t grossed USD 289 million from pre-salt

The funds originated from Pré-Sal Petróleo (PPSA), a company affiliated with the Brazilian Ministry of Mines and Energy.

Agência Brasil
pauta@ebc.com.br

Rio de Janeiro – Pré-Sal Petróleo (PPSA), a company affiliated with the Brazilian Ministry of Mines and Energy, grossed over BRL 1.133 billion (USD 289.5 million) for Brazil’s federal government this year. The information was made public this Thursday (27) by PPSA chairman Ibsen Flores Lima.

According to Lima, the result includes BRL 286 million (USD 73 million) in sales in the Mero development area in the Santos Basin, and BRL 847 million (USD 214 million) in expenditure and volume equalization (Equalização de Gastos e Volumes – EGV) at the Sapinhoá Field, also in the Santos Basin.

Ibsen Flores Lima noted that early on in the year, revenues to the tune of BRL 1 billion (USD 255 million) were expected. The actual result came as a surprise to PPSA. The company represents the federal government in the so-called Production Individualization Agreements. It manages pre-salt production sharing contracts and is tasked with oil and gas sales.

PPSA studies indicate that Brazil’s federal government will be entitled to 250,000 barrels of oil per day in 2028 concerning production stemming from 14 production sharing contracts currently in effect in the country, the chairman said.

Translated by Gabriel Pomerancblum

Press Release

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