Pré-Sal Petróleo S.A (PPSA), a company linked to the Ministry of Mines and Energy (MME), earned BRL 4.71 billion in 2022 by selling the Union’s share of oil and natural gas in production sharing contracts. The record fund is nearly four times that of 2021 (BRL 1.22 billion). The outcome reflects the increase in production sharing contracts as well as the current state of the international oil price market. “In 2021, we sold 3.5 million barrels of Union oil, while in 2022 we jumped to almost 11 million barrels. The daily average of oil in the Union today is 40 thousand barrels,” explained Eduardo Gerk, the company’s CEO.
Source: Portos e Navios (*Translated by Ia Niani)