Pré-sal Petróleo, the company responsible for the commercialization of the Union's oil, published on Friday in its website the announcement of the auction to be held on the São Paulo stock exchange to conclude contracts for the purchase and sale of Mero Development Area (Libra) and Sapinhoá, Lula and Tartaruga Verde fields. The public notice will be open for public consultation until April 24. During this period, Pre-Sal Petróleo will receive suggestions and doubts, respond to the demonstrations and make any changes to the bidding documents.

The auction will be held by B3 - Brasil, Bolsa, Balcão, scheduled for May 16. In a single public session, four contracts will be auctioned, which can be purchased by a single buyer or by different companies. The winner will acquire all the production of the respective field during a year, remunerating the Union with each withdrawal of load, according to the proposal of prices offered in the auction, based on the Price of Reference of the Petroleum (PRP), determined monthly by the National Agency of Petroleum (ANP).

According to the president of Pre-salt Petróleo, Ibsen Flores, the company is proposing the possibility of forming consortiums between foreign companies and / or investment funds associated with companies that carry the logistics necessary to withdraw cargoes. The goal is to encourage a greater number of participants in the auction. "We expect to receive contributions that will allow us to improve the bidding process. Knowing the specificities and the logistic challenge of the pre-salt, we believe that a long-term contract will be more interesting for companies than to carry out an auction for each load. predictability of shipment for business and the Union and ensures a flow of resources already defined, "he said.

About the lots

Mero Development Area: Sharing agreement signed in December 2013. For the period of one year, the estimated Union production to be auctioned is 1.6 million barrels of oil.

About 170 kilometers of the coast of the state of Rio de Janeiro,The area is part of the Santos Basin and is operated by a consortium formed by Petrobras (operator with 40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC (10%).

Sapinhoá: Share agreement signed on January 30, 2017. For the period of one year, the estimated Union production to be auctioned is 120 thousand barrels of oil.

The area is part of the Santos Basin and is operated by a consortium formed by Petrobras (operator with 45%), Shell (30%) and Repsol (25%). The surplus in oil profit is 80%.

Lula: Contract under concession. The Lula field is the main producer of pre-salt and is located in the Santos Basin. A Production Individualization Agreement (AIP) has been signed between the consortium and the Union since 2014. For a period of one year, the estimated Union production to be auctioned is 600,000 barrels of oil.

The Lula field, owned by the BM-S-11 consortium, is operated by Petrobras (65%), Shell (25%) and Petrogal (10%).

Tartaruga Verde: Contract under concession. The Tartaruga Verde field is located in the Campos Basin. A Production Individualization Agreement (AIP) has been signed between the consortium and the Union since 2014. For a period of one year, the estimated Union production to be auctioned is 480,000 barrels of oil.

The Tartaruga Verde field is operated by Petrobras. At the moment, Petrobras and Pre-Sal Petróleo are negotiating a revision of volumes and respective shares in Tartaruga Verde.

More information: http://www.presalpetroleo.gov.br