Petrobras received approx. R$ 3 billion from other private companies and paid approx. R$ 600 million to the Brazilian government.
Petrobras, following up on its announcement of December 1, 2025, informs that the financial settlements related to the first redetermination of the Tupi Shared Field, located in the Santos Basin, have been completed. This resulted from the approval of the Fourth Amendment to the Production Individualization Agreement (AIP) for the Field, which altered Petrobras' shareholding from 67.216% to 67.457% effective December 1, 2025.
In this regard, on March 31, 2026, Petrobras received approximately R$ 3 billion from other private companies and paid approximately R$ 600 million to the Brazilian government, represented by Pré-Sal Petróleo (PPSA). It should be noted that these amounts were recognized in the 4Q25 financial statements.
The financial compensation includes expenses incurred and revenues related to the volumes produced up to the effective date of this addendum to the AIP, in accordance with the current Cost and Volume Equalization Agreement (AEGV).
The table below shows the parties' old and new shareholdings in the Shared Deposit:
The shared Tupi 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 belonging to the Union, represented by PPSA in the AIP, as provided for in Law 12.351/2010.
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
