PPSA auction

The National Energy Policy Council (CNPE) has approved a resolution authorizing Pré-Sal Petróleo (PPSA) to conduct Brazil’s first auction for the sale of the Union’s rights and obligations under Production Individualization Agreements (AIPs). The process covers uncontracted areas of the Mero, Atapu, and Tupi shared reservoirs, all operated by Petrobras.

The unprecedented measure establishes the technical and economic parameters for the bidding process, including the minimum price to be observed by PPSA. The auction is expected to raise R$ 14.8 billion for the Union, a figure already included in the government’s revenue projections.

PPSA is expected to publish a public notice detailing the minimum bid amounts and other conditions. The auction winner will assume the Union’s rights and obligations in line with existing contracts, including requirements for decommissioning, environmental recovery and operational continuity.

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