Petrobras (NYSE: PBR) lifts Mero and Atapu pre-salt stakes in R$ 6.97B deal
Rhea-AI Filing Summary
Petróleo Brasileiro S.A. – Petrobras reports that it acquired the Union’s interests in the Mero and Atapu pre-salt oil reservoirs at PPSA’s Non-Contracted Areas Auction. Petrobras, with an 80% share in a consortium with Shell Brasil (20%), bought the Union’s 3.500% interest in the Mero production sharing agreement for R$ 7,791,844,310.00, raising its stake in the Mero shared reservoir from 38.60% to 41.40%. In a separate consortium where Petrobras holds 73.24% and Shell 26.76%, the companies acquired the Union’s 0.950% interest in the Atapu production sharing agreement for R$ 1,001,456,652.00, increasing Petrobras’ stake in Atapu from 65.687% to 66.38%.
The amount to be paid by Petrobras in December 2025 is R$ 6.97 billion, with contracts expected to be signed by March 2026. The company states that this disbursement was already planned and that, although the acquired volumes were not forecast, they fall within the ±4% margin of the production curve projection in its 2026–30 Business Plan, which focuses on replacing oil and gas reserves with economic and environmental resilience.
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Insights
Petrobras expands stakes in key pre-salt fields with a planned R$ 6.97B outlay.
Petrobras is increasing its exposure to Brazil’s core pre-salt assets by acquiring the Union’s participations in the Mero and Atapu shared reservoirs. In Mero, a consortium led by Petrobras (80%) with Shell (20%) bought a 3.500% interest in the production sharing agreement for
The company states that it will pay
The transaction is framed as consistent with a long-term plan that emphasizes reserve replacement with economic and environmental resilience, and is enabled by Law No. 15,164 of
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private
Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of December, 2025
Commission File Number 1-15106
PETRÓLEO BRASILEIRO S.A. – PETROBRAS
(Exact name of registrant as specified in its charter)
Brazilian Petroleum Corporation – PETROBRAS
(Translation of Registrant's name into English)
Avenida Henrique Valadares, 28 – 9th floor
20231-030 – Rio de Janeiro, RJ
Federative Republic of Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
Petrobras announces results of
PPSA’s Non-Contracted Areas Auction
—
Rio de Janeiro, December 4, 2025 – Petróleo Brasileiro S.A. - Petrobras informs that it has acquired the rights and obligations of the Union in Mero and Atapu units at the Non-Contracted Areas Auction held today by Pré-Sal Petróleo S.A. – PPSA.
The consortium formed by Petrobras (80%), in partnership with Shell Brasil Petróleo Ltda (20%), acquired the Union’s 3.500% participation in the production sharing agreement of the Mero shared reservoir, offering a final amount of R$ 7,791,844,310.00. With this acquisition, Petrobras increases its participation in the Mero shared reservoir from 38.60% to 41.40%.
Additionally, also in partnership with Shell (26.76%), Petrobras (73.24%) acquired the Union’s 0.950% participation in the production sharing agreement of the Atapu shared reservoir, offering a final amount of R$ 1,001,456,652.00. With this acquisition, Petrobras increases its participation in the Atapu shared reservoir from 65.687% to 66.38%.
The amount to be paid by Petrobras in December 2025 is R$ 6.97 billion and the contracts will be signed by March 2026. The disbursement was already planned by the company, and although the volumes were not forecasted, they are within the margin of ±4% of the production curve projection in the Business Plan 2026-30.
This auction was supported by Law No. 15,164, dated July 14, 2025, which amended Law No. 12,351, dated December 22, 2010, authorizing the Union to dispose of its rights and obligations arising from production sharing agreements in non-conceded or non-shared areas in the pre-salt region.
Petrobras’ participation in the PPSA Non-Contracted Areas Auction is aligned with the company’s long-term strategy, reaffirmed in the Business Plan 2026-30, which foresees the replacement of its oil and gas reserves with economic and environmental resilience.
www.petrobras.com.br/ir
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations
Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ.
Tel.: 55 (21) 3224-1510/9947
This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: December 4, 2025
PETRÓLEO BRASILEIRO S.A–PETROBRAS
By: /s/ Fernando Sabbi Melgarejo
______________________________
Fernando Sabbi Melgarejo
Chief Financial Officer and Investor Relations Officer
FAQ
What did Petrobras (PBR) announce in its December 2025 Form 6-K?
Petrobras announced that it acquired the Union’s rights and obligations in the Mero and Atapu shared reservoirs at PPSA’s Non-Contracted Areas Auction, increasing its ownership stakes in both pre-salt production sharing agreements.
How much did Petrobras pay to increase its stake in the Mero shared reservoir?
A consortium formed by Petrobras (80%) and Shell Brasil (20%) acquired the Union’s 3.500% participation in the Mero production sharing agreement for a final amount of R$ 7,791,844,310.00, raising Petrobras’ stake in Mero from 38.60% to 41.40%.
What change did Petrobras make to its participation in the Atapu shared reservoir?
In partnership with Shell, where Petrobras holds 73.24% and Shell 26.76%, the companies acquired the Union’s 0.950% participation in the Atapu production sharing agreement for R$ 1,001,456,652.00. Petrobras’ interest in the Atapu shared reservoir increased from 65.687% to 66.38%.
What is the total amount Petrobras will disburse for these acquisitions and when?
Petrobras states that the amount it will pay in December 2025 is R$ 6.97 billion, with the related contracts expected to be signed by March 2026.
How do these acquisitions fit into Petrobras’ 2026–30 Business Plan?
Petrobras explains that the disbursement was already planned and the additional volumes, although not individually forecast, fall within the ±4% margin of its production curve projection in the 2026–30 Business Plan, which focuses on replacing oil and gas reserves with economic and environmental resilience.
What legal framework allowed the Union to sell its interests in these pre-salt areas?
The auction was supported by Law No. 15,164, dated July 14, 2025, which amended Law No. 12,351 of December 22, 2010, authorizing the Union to dispose of rights and obligations from production sharing agreements in non-conceded or non-shared pre-salt areas.
