[6-K] Petroleo Brasileiro S.A.-Petrobras Current Report (Foreign Issuer)
Petróleo Brasileiro S.A. – Petrobras (PBR) reports that Brazil’s oil regulator ANP has approved the Production Individualization Agreement (AIP) for the Jubarte Pre-Salt Shared Reservoir in the Campos Basin. The unitization aligns ownership interests where the reservoir extends beyond concession boundaries and becomes effective 01-Aug-2025.
- Petrobras will hold 97.250% of the unitized reservoir; the remaining 2.750% is split among Shell (0.430%), ONGC (0.232%), Brava (0.198%) and the Brazilian Federal Government via PPSA (1.890%).
- The AIP sets rules for joint development, production operations and future revenue sharing.
- Parties must negotiate financial compensation covering historical costs and production up to the effective date.
Regulatory clearance removes legal uncertainty, affirms Petrobras’ dominant stake and paves the way for coordinated development of a high-quality pre-salt asset, potentially accelerating future production and cash generation.
Petróleo Brasileiro S.A. – Petrobras (PBR) comunica che l'ente regolatore brasiliano ANP ha approvato l'Accordo di Individualizzazione della Produzione (AIP) per il giacimento condiviso Jubarte Pre-Sal nella Bacia di Campos. L'unitarizzazione allinea gli interessi di proprietà laddove il giacimento si estende oltre i confini delle concessioni e diventerà efficace dal 01-ago-2025.
- Petrobras deterrà il 97,250% del giacimento unitizzato; il restante 2,750% è suddiviso tra Shell (0,430%), ONGC (0,232%), Brava (0,198%) e il Governo Federale brasiliano tramite PPSA (1,890%).
- L'AIP stabilisce le regole per lo sviluppo congiunto, le operazioni di produzione e la futura ripartizione dei ricavi.
- Le parti devono negoziare un compenso finanziario che copra i costi storici e la produzione fino alla data di entrata in vigore.
L'approvazione regolatoria elimina incertezze legali, conferma la quota dominante di Petrobras e apre la strada a uno sviluppo coordinato di un asset pre-sal di alta qualità, potenzialmente accelerando la produzione futura e la generazione di liquidità.
Petróleo Brasileiro S.A. – Petrobras (PBR) informa que el regulador petrolero de Brasil, ANP, ha aprobado el Acuerdo de Individualización de Producción (AIP) para el yacimiento compartido Jubarte Pre-Sal en la Cuenca de Campos. La unificación alinea los intereses de propiedad cuando el yacimiento se extiende más allá de los límites de las concesiones y será efectiva a partir del 01-ago-2025.
- Petrobras tendrá el 97,250% del yacimiento unificado; el restante 2,750% se divide entre Shell (0,430%), ONGC (0,232%), Brava (0,198%) y el Gobierno Federal brasileño a través de PPSA (1,890%).
- El AIP establece las reglas para el desarrollo conjunto, operaciones de producción y la futura distribución de ingresos.
- Las partes deben negociar una compensación financiera que cubra los costos históricos y la producción hasta la fecha de vigencia.
La aprobación regulatoria elimina la incertidumbre legal, confirma la participación dominante de Petrobras y allana el camino para un desarrollo coordinado de un activo pre-sal de alta calidad, potencialmente acelerando la producción futura y la generación de efectivo.
페트로브라스(Petróleo Brasileiro S.A. – Petrobras, PBR)는 브라질 석유 규제기관 ANP가 캄포스 분지의 주바르치 프리솔트 공유 저수지에 대한 생산 개별화 계약(AIP)을 승인했다고 보고했습니다. 이 단일화는 저수지가 양도권 경계를 넘는 경우 소유권 이익을 조정하며 2025년 8월 1일부로 발효됩니다.
- 페트로브라스는 단일화된 저수지의 97.250%를 보유하며, 나머지 2.750%는 쉘(0.430%), ONGC(0.232%), 브라바(0.198%) 및 브라질 연방정부 PPSA(1.890%)가 나누어 갖습니다.
- AIP는 공동 개발, 생산 운영 및 향후 수익 분배에 대한 규칙을 정합니다.
- 당사자들은 발효일까지의 과거 비용과 생산에 대한 재정 보상을 협상해야 합니다.
규제 승인으로 법적 불확실성이 해소되고, 페트로브라스의 지배 지분이 확인되며, 고품질 프리솔트 자산의 협력적 개발이 가능해져 향후 생산 및 현금 창출이 가속화될 전망입니다.
Petróleo Brasileiro S.A. – Petrobras (PBR) annonce que le régulateur pétrolier brésilien ANP a approuvé l'Accord d'Individualisation de la Production (AIP) pour le réservoir partagé Jubarte Pré-Sel dans le bassin de Campos. L'unitarisation harmonise les intérêts de propriété lorsque le réservoir s'étend au-delà des limites des concessions et devient effectif à partir du 01 août 2025.
- Petrobras détiendra 97,250% du réservoir unifié ; les 2,750% restants sont répartis entre Shell (0,430%), ONGC (0,232%), Brava (0,198%) et le gouvernement fédéral brésilien via la PPSA (1,890%).
- L'AIP définit les règles pour le développement conjoint, les opérations de production et le partage futur des revenus.
- Les parties doivent négocier une compensation financière couvrant les coûts historiques et la production jusqu'à la date d'entrée en vigueur.
Cette approbation réglementaire supprime l'incertitude juridique, confirme la participation dominante de Petrobras et ouvre la voie à un développement coordonné d'un actif pré-sel de haute qualité, pouvant potentiellement accélérer la production future et la génération de liquidités.
Petróleo Brasileiro S.A. – Petrobras (PBR) berichtet, dass die brasilianische Ölregulierungsbehörde ANP die Produktionsindividualisierungsvereinbarung (AIP) für das Jubarte Pre-Salz Gemeinschaftsreservoir im Campos-Becken genehmigt hat. Die Vereinheitlichung gleicht Eigentumsinteressen ab, wenn sich das Reservoir über Konzessionsgrenzen hinaus erstreckt, und wird ab dem 01.08.2025 wirksam.
- Petrobras hält 97,250% des vereinheitlichten Reservoirs; die restlichen 2,750% verteilen sich auf Shell (0,430%), ONGC (0,232%), Brava (0,198%) und die brasilianische Bundesregierung über PPSA (1,890%).
- Die AIP legt Regeln für die gemeinsame Entwicklung, Produktionsoperationen und zukünftige Erlösverteilung fest.
- Die Parteien müssen eine finanzielle Entschädigung für historische Kosten und Produktion bis zum Wirksamkeitsdatum verhandeln.
Die regulatorische Genehmigung beseitigt rechtliche Unsicherheiten, bestätigt den dominanten Anteil von Petrobras und ebnet den Weg für eine koordinierte Entwicklung eines hochwertigen Pre-Salz-Assets, was die zukünftige Produktion und Cash-Generierung potenziell beschleunigen kann.
- 97.25% working interest secured in Jubarte Pre-Salt, materially expanding Petrobras’ future production entitlement.
- Regulatory approval removes legal uncertainty and accelerates development timeline.
- Minor partners’ combined stake of only 2.75% limits future dilution and decision-making complexity.
- Obligation to negotiate financial compensation for past costs and production could create short-term cash outflow.
- Future joint operations introduce coordination risk with multiple partners, albeit small minorities.
Insights
TL;DR: Unitization gives Petrobras 97% control, de-risks Jubarte development, modest compensation obligation is the only caveat.
ANP’s approval finalizes ownership in Jubarte, a pre-salt reservoir known for high productivity. Petrobras’ 97.25% share consolidates future barrels and capital allocation decisions, boosting reserve certainty and project NPV. The requirement to compensate minority holders for past costs is minor given their combined 2.75% stake. Overall, the ruling reduces regulatory risk and should be marginally accretive to valuation.
TL;DR: Regulatory clarity lifts strategic upside; impact positive but not transformative for Petrobras’ portfolio size.
Petrobras already commands a multi-billion-barrel reserve base; nonetheless, locking in nearly all of Jubarte strengthens medium-term growth visibility. Agreement timing (effective Aug-25) allows swift project sanctioning under current capex plan. Cash settlements owed to partners are unlikely to dent leverage metrics. I view the disclosure as impactful at the margin, supporting a constructive stance on PBR equity.
Petróleo Brasileiro S.A. – Petrobras (PBR) comunica che l'ente regolatore brasiliano ANP ha approvato l'Accordo di Individualizzazione della Produzione (AIP) per il giacimento condiviso Jubarte Pre-Sal nella Bacia di Campos. L'unitarizzazione allinea gli interessi di proprietà laddove il giacimento si estende oltre i confini delle concessioni e diventerà efficace dal 01-ago-2025.
- Petrobras deterrà il 97,250% del giacimento unitizzato; il restante 2,750% è suddiviso tra Shell (0,430%), ONGC (0,232%), Brava (0,198%) e il Governo Federale brasiliano tramite PPSA (1,890%).
- L'AIP stabilisce le regole per lo sviluppo congiunto, le operazioni di produzione e la futura ripartizione dei ricavi.
- Le parti devono negoziare un compenso finanziario che copra i costi storici e la produzione fino alla data di entrata in vigore.
L'approvazione regolatoria elimina incertezze legali, conferma la quota dominante di Petrobras e apre la strada a uno sviluppo coordinato di un asset pre-sal di alta qualità, potenzialmente accelerando la produzione futura e la generazione di liquidità.
Petróleo Brasileiro S.A. – Petrobras (PBR) informa que el regulador petrolero de Brasil, ANP, ha aprobado el Acuerdo de Individualización de Producción (AIP) para el yacimiento compartido Jubarte Pre-Sal en la Cuenca de Campos. La unificación alinea los intereses de propiedad cuando el yacimiento se extiende más allá de los límites de las concesiones y será efectiva a partir del 01-ago-2025.
- Petrobras tendrá el 97,250% del yacimiento unificado; el restante 2,750% se divide entre Shell (0,430%), ONGC (0,232%), Brava (0,198%) y el Gobierno Federal brasileño a través de PPSA (1,890%).
- El AIP establece las reglas para el desarrollo conjunto, operaciones de producción y la futura distribución de ingresos.
- Las partes deben negociar una compensación financiera que cubra los costos históricos y la producción hasta la fecha de vigencia.
La aprobación regulatoria elimina la incertidumbre legal, confirma la participación dominante de Petrobras y allana el camino para un desarrollo coordinado de un activo pre-sal de alta calidad, potencialmente acelerando la producción futura y la generación de efectivo.
페트로브라스(Petróleo Brasileiro S.A. – Petrobras, PBR)는 브라질 석유 규제기관 ANP가 캄포스 분지의 주바르치 프리솔트 공유 저수지에 대한 생산 개별화 계약(AIP)을 승인했다고 보고했습니다. 이 단일화는 저수지가 양도권 경계를 넘는 경우 소유권 이익을 조정하며 2025년 8월 1일부로 발효됩니다.
- 페트로브라스는 단일화된 저수지의 97.250%를 보유하며, 나머지 2.750%는 쉘(0.430%), ONGC(0.232%), 브라바(0.198%) 및 브라질 연방정부 PPSA(1.890%)가 나누어 갖습니다.
- AIP는 공동 개발, 생산 운영 및 향후 수익 분배에 대한 규칙을 정합니다.
- 당사자들은 발효일까지의 과거 비용과 생산에 대한 재정 보상을 협상해야 합니다.
규제 승인으로 법적 불확실성이 해소되고, 페트로브라스의 지배 지분이 확인되며, 고품질 프리솔트 자산의 협력적 개발이 가능해져 향후 생산 및 현금 창출이 가속화될 전망입니다.
Petróleo Brasileiro S.A. – Petrobras (PBR) annonce que le régulateur pétrolier brésilien ANP a approuvé l'Accord d'Individualisation de la Production (AIP) pour le réservoir partagé Jubarte Pré-Sel dans le bassin de Campos. L'unitarisation harmonise les intérêts de propriété lorsque le réservoir s'étend au-delà des limites des concessions et devient effectif à partir du 01 août 2025.
- Petrobras détiendra 97,250% du réservoir unifié ; les 2,750% restants sont répartis entre Shell (0,430%), ONGC (0,232%), Brava (0,198%) et le gouvernement fédéral brésilien via la PPSA (1,890%).
- L'AIP définit les règles pour le développement conjoint, les opérations de production et le partage futur des revenus.
- Les parties doivent négocier une compensation financière couvrant les coûts historiques et la production jusqu'à la date d'entrée en vigueur.
Cette approbation réglementaire supprime l'incertitude juridique, confirme la participation dominante de Petrobras et ouvre la voie à un développement coordonné d'un actif pré-sel de haute qualité, pouvant potentiellement accélérer la production future et la génération de liquidités.
Petróleo Brasileiro S.A. – Petrobras (PBR) berichtet, dass die brasilianische Ölregulierungsbehörde ANP die Produktionsindividualisierungsvereinbarung (AIP) für das Jubarte Pre-Salz Gemeinschaftsreservoir im Campos-Becken genehmigt hat. Die Vereinheitlichung gleicht Eigentumsinteressen ab, wenn sich das Reservoir über Konzessionsgrenzen hinaus erstreckt, und wird ab dem 01.08.2025 wirksam.
- Petrobras hält 97,250% des vereinheitlichten Reservoirs; die restlichen 2,750% verteilen sich auf Shell (0,430%), ONGC (0,232%), Brava (0,198%) und die brasilianische Bundesregierung über PPSA (1,890%).
- Die AIP legt Regeln für die gemeinsame Entwicklung, Produktionsoperationen und zukünftige Erlösverteilung fest.
- Die Parteien müssen eine finanzielle Entschädigung für historische Kosten und Produktion bis zum Wirksamkeitsdatum verhandeln.
Die regulatorische Genehmigung beseitigt rechtliche Unsicherheiten, bestätigt den dominanten Anteil von Petrobras und ebnet den Weg für eine koordinierte Entwicklung eines hochwertigen Pre-Salz-Assets, was die zukünftige Produktion und Cash-Generierung potenziell beschleunigen kann.
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 July, 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____
Approval of the Production
Individualization Agreement of the Jubarte Pre-Salt by ANP
—
Rio de Janeiro, July 23, 2025 – Petróleo Brasileiro S.A. – Petrobras hereby informs that the Production Individualization Agreement (AIP) of the Jubarte Pre-Salt Shared Reservoir, located in the Campos Basin, has been approved by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP).
The Jubarte Pre-Salt Shared Reservoir comprises:
• an area of the Jubarte Field (BC-60) with 97.25%,
• uncontracted areas (Federal Government, represented by PPSA) with 1.89%; and
• an area of the Argonauta Field (BC-10) with 0.86%;
The agreement establishes each party’s interest and the rules for the joint implementation of the development and production operations of oil and natural gas in the shared reservoir. The interests of each party in the Jubarte shared reservoir are as follows:
| Interests in the Shared Reservoir | |
| PETROBRAS | 97.250% |
| SHELL | 0.430% |
| BRAVA | 0.198% |
| ONGC | 0.232% |
| FEDERAL GOVERNMENT (represented by PPSA) | 1.890% |
The AIP is executed when reservoirs extend beyond the boundaries of the contracted or concession areas, according to ANP regulations. Following ANP approval, the AIP will become effective on August 01, 2025.
As a result of the process of individualizing the production of the deposit, the companies' commitment includes the obligation to negotiate financial compensation between the expenses incurred and the revenues relating to the volumes produced up to the effective date of the AIP.
www.petrobras.com.br/ri
For more information:
PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations
Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br
Av. Henrique Valadares 28 – 9º andar – 20031-030 – Rio de Janeiro, RJ
Phone: 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 Exchange Act of 1934, as amended (Exchange 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, the future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information contained 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: July 23, 2025
PETRÓLEO BRASILEIRO S.A–PETROBRAS
By: /s/ Fernando Sabbi Melgarejo
______________________________
Fernando Sabbi Melgarejo
Chief Financial Officer and Investor Relations Officer
FAQ
What did ANP approve regarding Petrobras (PBR)?
How much of the Jubarte Pre-Salt reservoir does Petrobras own?
Who are the minority partners in the Jubarte AIP?
Will Petrobras face any immediate costs from the agreement?
Why is the AIP important for investors?
