Brazil’s PPSA looking to triple production-sharing revenue this year & More News Here

State-run Pré-Sal Petróleo (PPSA), who’s answerable for overseeing Brazil’s pre-salt production-sharing contracts, mentioned final week that it plans to maintain a young to promote the pure gasoline parcels that the federal government is entitled to within the pre-salt polygon. 

The tender will probably be held within the second half of the year. 

BNamericas spoke with PPSA’s administration, finance and buying and selling director, Samir Awad, in regards to the upcoming course of.

BNamericas: Besides the gasoline course of, does PPSA plan to maintain auctions for the production-sharing of oil in 2022?   

Sawad: We plan to proceed in the identical approach to promote the federal government’s oil this year. We’ll perform a course of to promote the portion of the Sépia and Atapu fields [in the Santos basin pre-salt].   

BNamericas: What’s the anticipated timeline?   

Sawad: There’s no date set but. The forecast is that the tender course of shall be held within the second half of the year.   

BNamericas: What’s the quantity that shall be offered? And do you count on a rise in contrast to 2021? 

Sawad: The quantity this time shall be small. We’re speaking about two a great deal of 500,000b, one from Sepia and the opposite from Atapu. These would be the first cargoes of this oil that’s offered by PPSA. Therefore, it’s not potential to evaluate with 2021.  

When we evaluate, nonetheless, the 2021 revenues with the quantities projected for 2022 we see vital development. Last year we had revenues of 1.22bn reais [US$240mn] from buying and selling. This year we count on 3.8bn reais.   

BNamericas: Will the tender embody oil and gasoline from the excess volumes at Búzios, Atapu, and Sépia?  

Sawad: The tender course of that we plan to maintain for the sale of pure gasoline on the finish of the year contains output from the Entorno de Sapinhoá and Búzios fields, as well as to the shared deposit [jazida compartilhada] of Tupi. 

The inclusion of the sale of the federal government’s gasoline from Atapu and Sépia in this course of will depend on the beginning of the Rota 3 pipeline operation [expected in July]. 

Editor’s notice: PPSA expects to promote 125,000m3/d this year and about 200,000m3/d in 2023.

BNamericas: Do you imagine there shall be stronger curiosity from consumers due to the geopolitical context and the standard of the oil in query?  

Sawad: It’s nonetheless early to make this evaluation.  

BNamericas: To date, which firms have purchased oil from the nation’s production-sharing course of?  

Sawad: So far, solely [national oil company] Petrobras. First through spot gross sales after which within the second oil public sale, in 2018. In the third tender, held in 2021, Petrobras additionally purchased all of the heaps supplied.

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