WS Investor
03 Apr 2026, 19:45
Petrobras announced the completion of financial settlements related to the redetermination of the Tupi Shared Reservoir in Brazil’s Santos Basin.
Following an updated production agreement, Petrobras’ stake in the reservoir increased slightly to 67.457% from 67.216%. As part of the settlement, the company received approximately R$3 billion from partners Shell Brasil Petróleo and Petrogal Brasil, while paying around R$600 million to the federal government, represented by Pré-Sal Petróleo.
The adjustments reflect updated calculations of production volumes and associated revenues and costs up to December 2025, aligning ownership shares across the consortium.
Petrobras said the amounts were already recognized in its fourth-quarter 2025 financial statements, and the settlement finalizes the first revision of participation in the major offshore oil field.
Following an updated production agreement, Petrobras’ stake in the reservoir increased slightly to 67.457% from 67.216%. As part of the settlement, the company received approximately R$3 billion from partners Shell Brasil Petróleo and Petrogal Brasil, while paying around R$600 million to the federal government, represented by Pré-Sal Petróleo.
The adjustments reflect updated calculations of production volumes and associated revenues and costs up to December 2025, aligning ownership shares across the consortium.
Petrobras said the amounts were already recognized in its fourth-quarter 2025 financial statements, and the settlement finalizes the first revision of participation in the major offshore oil field.
