From the Field
Petrobras, Total win Brazilian pre-salt oil cargoes
RIO DE JANEIRO, September 3, 2018 – Brazilian NOC Petrobras and French major Total were the two winners of a government auction for pre-salt oil cargoes, international media reported over the weekend.
Held on Friday, the auction saw Petrobras sign two three-year deals for a total of 11.2 million barrels of oil from the Mero and Sapinhoá fields. Total, on the other hand, took 1.1 million barrels from the Lula field under a 12-month contract.
The auction was administered by Pre-Sal Petróleo, a company established under Brazil’s Ministry of Mines and Hydrocarbons to manage PSAs covering pre-salt acreage and the government’s take of pre-salt production.
Pre-Sal Petróleo’s first auction, organised in May, saw no contracts signed for oil cargoes.