Petrobras on Mero Production Individualization Agreement

Source: www.gulfoilandgas.com 12/13/2021, Location: South America

Petrobras announces that the National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved, at the Collegiate Board Meeting No. 1074 held on December 9, 2021, the Production Individualization Agreement (AIP) of the Mero accumulation, located in the Santos Basin.

The Mero joint reservoir comprises:
Mero Field area (Production Sharing Contract LIBRA-P1) 96.500% and;
Adjacent area (Federal Government, represented by PPSA) 3.500%.

The agreement establishes the stakes of each party and the rules of joint execution of the operations of development and production of oil and natural gas in the joint reservoir. The stakes of each party in the Mero joint reservoir are now as follows:

The Agreement is celebrated in situations where the reservoirs extend beyond the areas granted or contracted, as regulated by the ANP. With the approval by ANP, the agreement will be effective as of January 1, 2022.

As a result of the process of individualizing the production of the accumulation, the parties are negotiating the equalization between the expenses incurred and the revenues obtained with the volumes produced up to the effective date of the Agreement.


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