The Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) has greenlit production allocation agreements (AIPs) for shared reservoirs in the pre-salt layer of the Santos Basin.
Brazilian state-owned energy giant Petrobras was notified by the National Petroleum, Natural Gas and Biofuels Agency on April 30, 2026, regarding the approval of production allocation agreements for Cockles spThe iron tank in the area BVE-ITP/RJS-656 (Sororo) and area BVE-ITD/RJS-697 in Berbijao in the Santos Basin.
The shared reservoirs in Sororo and Barbigao include a concession contract BM-S-11Amanaged by Petrobras (42.5%), in partnership with Shell (25%), Total Energies (22.5%), and Petrogal (10%), in addition to the rights transfer contract, managed by Petrobras, which holds a 100% stake.
The effective date of the AIP Agreement is May 1, 2026. The Agreement defines the interests of each party and the rules governing the joint implementation of oil and natural gas development and production operations in the shared reservoir.
Both fields have been producing since 2019 through FPS or F-68With a production capacity of 150 thousand barrels of oil per day. AIP is implemented in cases where reservoirs extend beyond areas covered by concessions or contracts, in accordance with ANP regulations.
As a result of the individualization of production from tanks, the financial settlement between expenses incurred and revenues relating to quantities produced up to the effective date of the AIP will be subject to negotiation between companies.
Petrobras is expanding its oil and gas production arsenal, as evidenced by start The eighth floating production storage and offloading (FPSO) vessel in Buzios field Earlier than planned.
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