Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 97

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 97
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 impairment.

Expenses on major planned maintenance, carried
out to restore or maintain the original performance standards of industrial units, maritime production units and ships, are recognized
in property, plant and equipment when the campaign period is longer than twelve months and the campaigns are predictable. These expenses
are depreciated over the expected period until the next major maintenance. Maintenance expenses that do not meet these requirements are
recognized as expenses in the income statement for the year.

Replacement parts and spare parts with a useful
life of more than one year and which can only be used in connection with items of property, plant and equipment are recognized and depreciated
together with the main asset.

Financial charges on loans directly attributable
to the acquisition or construction of assets are capitalized as part of the costs of those assets.

In the case of resources raised without specific
destination, used for the purpose of obtaining a qualifying asset, the financial charges are capitalized by the average loan rate in force
during the period, applied to the balance of works in progress.

The company ceases to capitalize financial charges
on qualifying assets whose development is completed. Generally, interest capitalization is suspended, among other reasons, when qualifying
assets do not receive significant investments for a period equal to or greater than 12 months.

Assets directly related to the production of oil
and gas in a contracted area, whose useful life is not less than the life of the field (reserve exhaustion time), are depleted using the
produced units method, including rights and concessions such as the signature bonus.

| 71 |

| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

Using the produced units method, the depletion
rate is calculated based on the monthly production of the respective producing field in relation to its respective developed proven reserve,
except for the signature bonus, whose rate is calculated considering the monthly production volume in relation to the total proven reserves
of each producing field in the area to which the signature bonus refers.

Assets depreciated using the straight-line method
based on estimated useful lives, which are reviewed annually and shown in note 23.2, are: (i) those directly linked to oil and gas production,
whose useful life is shorter than the useful life of the field; (ii) mobile platforms; and (iii) other assets not directly related to
oil and gas production. Land is not depreciated.

Right-of-use assets are presented as property,
plant and equipment and, according to the useful lives of their respective