Petrobras informs that it has been notified by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) about the approval of the addendum to the Production Individualization Agreement (AIP) for the Tupi Shared Field , located in the Santos Basin , which will come into effect as of today.
The Tupi Shared Deposit comprises:
- The BM-S-11 Concession Contract (Tupi field), operated by Petrobras (65%), in partnership with Shell (25%) and Petrogal (10%);
- The South Tupi Block of the Transfer of Rights Agreement (South Tupi field), operated by Petrobras, which holds a 100% stake; and
- The Uncontracted Area belongs to the Federal Government, represented by Pré-Sal Petróleo – PPSA in the AIP, as stipulated in Law 12.351/2010.
With the addendum, resulting from the conclusion of the first redetermination process of the Shared Field, Petrobras' share of the Field increases to 67.457%.
The table below shows the old and new shareholding percentages for each party:
Due to the change in the participation installments, the companies are committed to carrying out financial compensation between the expenses incurred and the revenues related to the volumes produced up to the effective date of this amendment to the AIP, according to the current Expense and Volume Equalization Agreements (AEGV).
The amounts are being determined by the parties and the amount to be received by Petrobras will be recognized in the 4Q25 financial statements, with cash inflow expected for 1Q26.
It should be clarified that the Tupi AIP does not include the deposit known as Iracema, which remains under the same ownership structure of the BM-S-11 consortium.
Source: Petrobras
