Petrobras signs three concession contracts in the Pelotas Basin offshore Brazil

Petrobras signed three remaining concession contracts in partnership with Shell and CNOOC. The consortium will have Petrobras as operator, with a 50% stake, and Shell and CNOOC as partners with 30% and 20% stakes, respectively.

The signing of the contracts for blocks PM-1737, PM-1739 and PM-1797 concludes Petrobras’ participation in the auction of the 4th Permanent Concession Offer Cycle, in which it acquired a total of 29 concession contracts in the Pelotas Basin.