ANP has approved the unitization agreements for the shared reservoirs of Sururu and Berbigão, in the pre-salt of the Santos Basin. The agreements formalize the understanding between Petrobras, the federal government and partners Shell, TotalEnergies and Petrogal regarding joint operation of the areas.
The approved interests increased Petrobras’ participation, with Sururu allocated among Petrobras, Shell, TotalEnergies and Petrogal, and Berbigão also allocated among the same parties.
Market Impact
The approval provides greater legal and operational certainty for the development of shared reservoirs and may support more efficient production planning in mature pre-salt areas.
Legal & Contractual Implications
Unitization arrangements typically require careful attention to:
- allocation of production and costs among parties
- compensation for pre-agreement production
- governance of joint operations
- interaction between concession, transfer of rights and production sharing regimes
ANP noted that unitization is required when a reservoir extends beyond the limits of contracted or granted areas.
Photo: Canva
