Pré-Sal Petróleo (PPSA), the state company in charge of representing the Union in production sharing contracts, defined on Monday the minimum price limit for lots in the next auction of oil produced in the Mero and Búzios fields, scheduled for Wednesday, with the expectation of raising 15 billion reais.
A total of 37.5 million barrels of oil will be offered, divided into three lots in the Mero field (two of 12 million barrels and one of 11 million) and one in Búzios (2.5 million barrels), both in the pre-salt of the Santos Basin.
In the first phase, Mero lots will have as their minimum limit the value of dated Brent – international reference published daily on Platts – minus 4.40 dollars, while those of Búzios will be equal to the value of dated Brent minus 4.25 dollars, the company said in a statement this Monday.
According to PPSA, the values at this auction are at a discount to dated Brent, due to the fact that the oil is being sold on a floating oil production, storage and transfer (FPSO) platform.
“The winner of the auction will be responsible for finding oil in the FPSO and for all logistics costs to bring the cargo to the final market,” the state company said, noting that the operation includes rescue, inspection, transshipment and long-distance transport costs, among others.
The list of qualifiers for the event consists of Petrobras, Refinaria de Mataripe, CNOOC Petroleum Brasil, ExxonMobil Exploração Brasil, Equinor Brasil Energia, Galp Energia Brasil, PetroChina International (Brazil) Trading, PRIO Comercializadora, Shell Trading Brasil and TotalEnergies EP Brazil.
Source: Terra
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