PPSA, pre-salt state-owned company, has record revenue of BRL 4.7 billion in 2022

The state-owned Pré-Sal Petróleo (PPSA), which represents the Union in production sharing contracts, raised a record BRL 4.71 billion in 2022 with the sale of oil and gas from these assets, as reported this Thursday ( 5).

The amount is almost four times greater than the previous year, when it collected R$ 1.22 billion. The jump occurred as a result of increased production in production-sharing contracts and the international oil price market situation, PPSA said.

“In 2021, we sold 3.5 million barrels of Union oil, while in 2022 we jumped to almost 11 million barrels. Our studies show that growth will continue to accelerate”, detailed the company’s CEO, Eduardo Gerk, in a note.

The executive reiterated that the Union’s daily oil average will jump from the current 40,000 barrels to 450,000 barrels in five years and almost 900,000 barrels in 10 years.

“We had an excellent result in the auction held in 2021 to market Union cargo and we are reaping the results. Our next step will be to carry out a new large auction in 2024, for the commercialization of future Union cargo”, he reaffirmed.

Throughout 2022, 22 Union oil cargoes were delivered, totaling 10.9 million barrels.

The amount sold last year was divided into ten loads from the Mero field, four from Tupi, four from Búzios, three from Entorno de Sapinhoá and one from Sépia.

With the exception of Sépia, which had a separate commercialization process, won by Galp Energia Brasil, the others were sold in an auction held at B3, in 2021, which won Petrobras. During the period, 64.89 million cubic meters of natural gas from Campos Sapinhoá, Tupi, Búzios and Tartaruga Verde were also sold to Petrobras, said PPSA.