Petrobras has successfully acquired expanded shares in the Mero and Atapu oil fields through a consortium with Shell in a significant auction aimed at enhancing its production capacity and strategic positioning.

Target Information

Petrobras, a prominent Brazilian oil and gas company, has successfully acquired the rights and obligations of the Union in the Mero and Atapu fields during the Non-Contracted Areas Auction held on December 4. The consortium, which includes Petrobras with a stake of 80% and Shell Brasil Petróleo Ltda with 20%, secured a 3.500% share in the production individualization agreement for the shared Mero deposit with a final bid of R$ 7,791,844,310. This acquisition increases Petrobras's stake in the Mero shared deposit from 38.60% to 41.40%.

Moreover, in cooperation with Shell, where Petrobras holds a 73.24% share and Shell 26.76%, the company also acquired a 0.950% share in the production individualization agreement for the Atapu shared deposit, bidding R$ 1,001,456,652. This transaction elevates Petrobras's interest in Atapu from 65.687% to 66.38%. The payment of R$ 6.97 billion is scheduled for December 2025, with contract signing expected to conclude by March 2026. This expenditure aligns with the company's forecasts, which are within 4% of the production curve projections outlined in the 2026-30 Business Plan.

Industry Overview

The Brazilian oil and gas industry is a critical component of the national economy, contributing significantly to GDP and employment. The country is one of the largest oil producers in South America, and its pre-salt layer has been a focal point of explo