Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 65

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 65
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 each party in the Reservoir
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Petrobras                                    50
(operator)                                     
Petronas                                     50
SAPINHOÁ
 In 2000, we, YPF Brasil Ltda (YPF) and BG E&P Brasil LTDA (BG), entered into an agreement to create the BM-S-9 consortium, and the BM-S-9 concession contract was signed in September 2000. YPF and BG interests were later acquired by Repsol and Shell, respectively. We operate Sapinhoá (Concession Contract / BM-S-09), with a 45% interest, in partnership with Shell (30% interest) and Repsol (25% interest).
 In October 2017, the same consortium acquired the rights to produce in the extended area of Entorno de Sapinhoá (composed of Sudoeste de Sapinhoá, Noroeste de Sapinhoá, and Nordeste de Sapinhoá). The Production Sharing Contract related to such area was signed in January 2018.
 ANP approved the AIP of Sapinhoá Field shared deposit, located in the Santos basin, which has been in effect since March 2018, with the following interests of each contract in the Sapinhoá Shared Reservoir:
 
                 Contract                                     Interest                  
                                            (%) of each Contract in the Shared Reservoir
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Sapinhoá                                                                           96.30
(Concession Contract / BM-S-09)                                                         
Entorno                                                                             3.70
de Sapinhoá (Production Sharing Contract)                                               

Annual Report and Form 20-F 2024 |

The interest of each party in the Sapinhoá shared reservoir are as follows:
 
 Partner                      Interest                
   (1)       (%) of each party in the Shared Reservoir
------------------------------------------------------
Petrobras                                        45.00
(operator)                                            
Shell                                            30.00
Repsol                                           25.00
Sinopec                                               

(1)                                      PPSA                                  
      is the manager of the Production Sharing Contract of Entorno de Sapinhoá.
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In November 2024, the consortium submitted to ANP an amendment to the AIP arising from the process of reviewing interests of each contract in the Sapinhoá Shared Reservoir. This amendment to the AIP is still under analysis by ANP.
 
BRAVA
 We entered into an AIP with PPSA to establish the terms and conditions of the Brava shared reservoir, located in the