Petrobras has announced that it has signed the three remaining concession contracts from the 4th Permanent Concession Offer Cycle, acquired in partnership with Shell and CNOOC, at the public session held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in December 2023.

The consortium will have Petrobras as operator, with a 50% stake, and Shell and CNOOC as partners with 30% and 20% stakes, respectively.

The signing of the contracts for blocks P-M-1737, P-M-1739 and P-M-1797 concludes Petrobras' participation in the auction of the 4th Permanent Concession Offer Cycle, in which it acquired a total of 29 concession contracts in the Pelotas Basin.

The signing of these contracts is in accordance with the company's long-term strategy with the aim of diversifying its portfolio; and it also strengthens Petrobras' position as the main operator of oil fields located in deep and ultra-deep waters, potentializing the recomposition of reserves for the future.