PPSA raises BRL 10.32 billion in 2024

PPSA (Pré-Sal Petróleo), a company linked to the Ministry of Mines and Energy, raised BRL 10.32 billion in 2024 with the sale of the Government's oil and natural gas shares in five production-sharing agreements and the production unitization agreement for Tupi. The amount is approximately 71% higher than the revenue collected in 2023 (BRL 6.02 billion) and reflects the increase in production under the agreements, as well as the success achieved in the competitive bidding processes for the commercialization of the Government's oil and gas shares conducted by PPSA since 2021. All funds raised are directed to the National Treasury.

In 2024, 56 shipments of the Government's oil were made, totaling 27.39 million barrels, including 43 shipments from the Mero field, six from Búzios, three from Sépia, two from the Sapinhoá Surrounding area, one from Tupi, and one from Atapu. Except for the shipments from Sépia and Atapu, which were sold through direct sale processes, the others are related to long-term agreements resulting from an auction held by PPSA on B3 in 2021, with Petrobras being the winning bidder. In 2024, a total volume of 53.8 million cubic meters of natural gas was also sold to Petrobras.

In December 2024, the company also set a new record, raising BRL 2 billion for the Government through commercialization. Until then, the record was the result achieved in August 2024, with BRL 1.4 billion.

According to PPSA's Director of Administration, Finance, and Commercialization, Samir Awad, this result represents the beginning of a new performance curve for the company, which will see increasing revenues in the coming years. “In 2030, when the nine commercial production sharing agreements we have today reach their peak production, the Government's share will be 543 thousand barrels per day, with an estimated revenue of BRL 69 billion. “By 2034, projections indicate a cumulative revenue of BRL 506 billion for the Government,” he said.