Petrobras Inks 26 Concession Contracts in Brazil’s Pelotas Basin

Petrobras has signed 26 concession contracts, acquired in partnership with Shell, for the blocks located in the Pelotas Basin, offshore Brazil.

The concession contracts are part of the fourth Permanent Concession Offer Cycle of the public session held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in December 2023.

The consortium will have Petrobras as operator, with a 70% stake, and Shell with a 30% stake.

The contracts refer to blocks P-M-1277, P-M-1279, P-M-1281, P-M-1361, P-M-1363, P-M-1441, P-M-1443, P-M-1357, P-M-1359, P-M-1439, P-M-1516, P-M-1518, P-M-1595, P-M-1597, P-M-1793, P-M-1795, P-M-1838, P-M-1840, P-M-1520, P-M-1522, P-M-1599, P-M-1674, P-M-1676, P-M-1678, P-M-1743, P-M-1799.

In this auction of the fourth Permanent Concession Offer Cycle, Petrobras also acquired three other blocks in partnership, whose contracts will be signed later according to the ANP's schedule.

The signing of these contracts is in accordance with the company's long-term strategy with the aim of diversifying its portfolio, according to Petrobras, which said it also strengthens its position as the main operator of oil fields located in deep and ultra-deep waters, potentializing the decomposition of reserves for the future.