Pré-Sal Petróleo SA (PPSA), a company linked to the Ministry of Mines and Energy (MME), ended the year 2021 with revenues of R$ 1.22 billion for the Union, an increase of 74% compared to the result of 2020, when R$ 704 million were collected.
According to PPSA, the result is a record in the historical series, surpassing the previous record of BRL 1.1 billion, registered in 2018. The funds refer to the sale of the Union’s share of oil and natural gas in production-sharing contracts.
In 2021, PPSA sold 3.5 million barrels of oil from the União do Campo Entorno de Sapinhoá and the Mero Development Area (Libra). 57.6 million cubic meters of natural gas from the União dos Campos de Búzios, Entorno de Sapinhoá, Tartaruga Verde Sudoeste and Tupi fields were also sold.
Growth curve
The company’s CEO, Eduardo Gerk, said that the result represents the beginning of a revenue growth curve expected for the Union in the coming years. “The contracts are coming into production, and this excellent result confirms the growth trend that we will witness in the coming years.”
At the end of last year, the PPSA released the study Results Estimates in Production Sharing Contracts, which forecasts the production, by 2031, of 8.2 billion barrels of oil on a production-sharing basis, with 1.5 billion barrels referring to the Union’s share. volumes,” added Gerk,
Since its creation in 2013, the PPSA has already raised R$3.9 billion for the Union, of which R$2.6 billion from the oil and gas trading activity and R$1.3 billion from the equalization of expenses and volumes carried out by the company in areas where the Union participates in production individualization agreements (AIPs).
