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Brazil's oil regulator approves Mero oilfield production agreement

Mon, 13th Dec 2021 11:48

SAO PAULO, Dec 13 (Reuters) - Brazilian state-run oil
company Petrobras said on Monday that the country's
oil regulator ANP has approved a production agreement for the
Mero oilfield, deciding on which stake of its oil and gas output
will be hold by each company starting in Jan 2022.

Such an agreement is signed when the area of an oil deposit
exceeds previously contracted areas, Petrobras said.

Petroleo Brasileiro SA, as the company is formally known,
said in a securities filing it will own 38.6% of Mero's
so-called shared deposit, while Shell Brasil and
TotalEnergies will hold 19.3% each.

Chinese companies CNODC and CNOOC will hold a
9.65% stake each, and Brazilian state-run firm Pre-Sal Petroleo
PPSA will have 3.5% of the shared deposit production, Petrobras
added.
(Reporting by Gabriel Araujo, Editing by Louise Heavens)

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