Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 172

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 172
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                                     |     4,723 |       3,407 |             5,330 |
| South America, outside Brazil (1)                                                                                                                                                                                                          |         1 |          82 |                15 |
| Total Consolidated Entities                                                                                                                                                                                                                |     4,724 |       3,489 |             5,346 |
| Equity Method Investees                                                                                                                                                                                                                    |           |             |                   |
| North  America (1)                                                                                                                                                                                                                         |         2 |           1 |                 2 |
| Total Equity Method Investees                                                                                                                                                                                                              |         2 |           1 |                 2 |
| Total undeveloped Consolidated and Equity Method Investees                                                                                                                                                                                 |     4,726 |       3,490 |             5,348 |
| Total proved reserves (developed and undeveloped)                                                                                                                                                                                          |     8,926 |       8,683 |            10,473 |
| (1) South American oil reserves include 24% of natural gas liquids in developed reserves and 24% in undeveloped reserves. North American oil reserves include 2% natural gas liquids in developed reserves and 4% in undeveloped reserves. |           |             |                   |
| (*) Apparent differences in sums are due to rounding                                                                                                                                                                                       |           |             |                   |
| In 2023 we standardize the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, equivalent to the conversion used in contracts in Brazil. The quantities from previous years are restated with the new conversion.           |           |             |                   |

e) Standardized measure of discounted future
net cash flows relating to proved oil and gas quantities and changes therein

The standardized measure of discounted future net
cash flows, related to the above proved oil and gas reserves, is calculated in accordance with the requirements of Codification Topic
932 – Extractive Activities – Oil and Gas.

Estimates of future cash inflows from production
are calculated by applying the average price during the 12-month period prior to the closing date, determined as an unweighted arithmetic
average of the first price of each month within that period, unless prices are set by contractual agreements, excluding indexes based
on future conditions. Variations in future prices are limited to variations foreseen in existing contracts at the end of each year. Future
development and production costs correspond to the estimated future expenditures necessary to develop and extract the estimated proven
reserves at the end