Pré-Sal Petróleo S.A (PPSA), a company linked to the Ministry of Mines and Energy (MME), raised R$ 4.71 billion in 2022 with the sale of the Union’s share of oil and natural gas in production sharing contracts. The record collection is about four times the amount recorded in 2021 (R$ 1.22 billion). The result reflects the increase in production in production sharing contracts and the situation in the international oil price market.

Throughout 2022, 22 Union oil cargoes were delivered, totaling 10.9 million barrels. The amount was divided into ten loads from Campo de Mero, four from Tupi, four from Búzios, three from Entorno de Sapinhoá and one from Sépia. With the exception of the latter, which had a separate commercialization process, won by Galp Energia Brasil, the others were sold in an auction held at B3, in 2021, which was won by Petrobras. During the period, 64.89 million cubic meters of natural gas from Sapinhoá, Tupi, Búzios and Tartaruga Verde fields were also sold to Petrobras.

“In 2021, we sold 3.5 million barrels of Union oil, while in 2022 we reached almost 11 million barrels. Our studies show that growth will continue to accelerate. Today, the daily average of oil in the Union is 40,000 barrels. In five years, it will be 450 thousand barrels and, in ten years, almost 900 thousand. We had an excellent result in the auction held in 2021 to market Union cargo and we are reaping the results. Our next step will be to carry out a new large-scale auction in 2024, for the commercialization of future Union cargo”, explained Eduardo Gerk, the company’s CEO.

Since 2013, when it was instituted, PPSA has raised R$ 8.63 billion for the Union, of which R$ 7.33 billion were with the oil and gas commercialization activity and R$ 1.3 billion with the equalization of expenses and volumes carried out by the company in areas where the Union participates in Production Individualization Agreements (AIPs). All funds raised are directed to the National Treasury.