Sapinhoá Field Consortium yields R $108 mi

An agreement between the public company pre-Sal Petróleo S.A. (PPSA) With the consortium of the Sapinhoá field, in the Santos Basin, yielded R $108 million to the union. The value is equivalent to the production of oil from the surplus area to the auctioned field. PPSA is the one who administers the resources of the pre-salt, since 2013.

The Brazilian government decided to share the exploration of pre-salt wells with private initiative due to the high cost of operation. The discovery of oil in the field exceeded the limits of the auctioned area, causing a parcel, that is, the surplus, to pass to the hands of the Union. Since PPSA is the company linked to the Ministry of Mines and Energy, it represents the union in the negotiations with the bloc's proprietary consortium.

In 2018, the consortium operating Sapinhoá and PPSA made the first financial compensation agreement on the surplus area between 2010 and 2017. This first agreement generated R $847 million for the national treasury. This new amount is a complement to the previous ones.

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