Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 221

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 221
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 objective is to make pecuniary retribution to society for the exploitation of these nonrenewable resources.
 In accordance with Law No. 9,478/1997 and due to the concession contracts entered into with ANP, the exploration and production activities of oil and natural gas are subject to the payment of the following government shares:
 
–                                              Royalties                                           
        established in the concession contracts at a rate of 10% of the gross production revenue   
    based on the reference prices for crude oil or natural gas established by ANP in its regulatory
    acts. When establishing the royalty rates, ANP also considers the geological risks and expected
      productivity levels for each concession and may provide a reduction of the rate to an amount 
        corresponding to at least 5%. Most of our crude oil and natural gas production currently   
                                     pays the maximum royalty rate.                                
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–                                                Special                                             
        participation at a rate ranging from zero to 40% of the net revenue from the production of   
    fields that reach high production volumes or profitability, according to the criteria established
         in the applicable legislation. The calculation takes into account the Gross Revenue (oil    
    and gas production volume multiplied by price) from each production field, based on the reference
       prices for crude oil or natural gas established by Decree No. 2,705/1998 and ANP regulatory   
        acts, minus the royalties paid, exploration investments, operational costs, and applicable   
         depreciation and taxes adjustments. In 2024, payments of this government share were made    
            in 12 of our fields, namely, Barracuda, Berbigão, Jubarte, Leste do Urucu, Marlim        
           Leste, Marlim Sul, Rio Urucu, Roncador, Sapinhoá, Sururu, Tartaruga Verde, and Tupi.      
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–                                                 The                                              
    signing bonus will have its minimum value established in the bidding notice and will correspond
      to the payment offered in the proposal to obtain the concession. It must be paid at the time 
                                  of signing the concession contract.                              
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–                                               Payment                                             
        for the retention or occupation of contracted areas for exploration and production, at a    
    rate established by ANP in the relevant bid notices, based on the size, location, and geological
                                characteristics of the concession block.                            
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 Laws No. 9,478/1997 and No. 12351/201