Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 54

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 54
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 on designing and contracting production systems, which includes platforms, subsea systems, drilling, and the completion of wells.
 With respect to well construction, in 2024, several initiatives were implemented, such as the application of new drilling and completion technologies, optimization in the acquisition of reservoir data and the use of integrated contracts. We are also continuously working to automate operations with a consequent reduction in exposure to risk. We have reached a plateau in Well Construction Cost using current technologies, with our performance remaining relatively stable with a maximum variation of 8% relative to the five-year average, which is 40% lower than the 2018–2019 baseline. Now, our primary challenge lies in enhancing well reliability, integrity and availability to ensure sustained production efficiency.
  
Annual Report and Form 20-F 2024 |

Our average offshore Well Construction Duration (total time for drilling plus completion) had a 10% increase when compared to 2023, with an average of 98.8 days/well in 2024, and the Well Construction Cost performance showed an 9% increase when compared to 2023. The troubleshooting associated with the implementation of new technologies, such as wet disconnect tool and conformable sand screen, and operational issues, such as BOP failure and geomechanical challenges, are the main reasons associated with these results. Specifically, in the Santos Basin Pre-salt area, we experienced a 2% increase in average duration and a 2% increase in average cost compared to 2023.
 In relation to Well Connection Cost performance in the Santos Basin Pre-salt area, we had a 13% increase in average cost when compared to 2023, a level even lower than in the 2021-2022 period. 
 In the context of subsea systems, our investments in research and development seek to provide tools to identify failure mechanisms more accurately and swiftly, increasing the reliability of operations. New inspection technologies have been widely used and contribute to the integrity of subsea systems, especially those pipelines susceptible to CO2-induced corrosion. Also, the use of digital technologies such as the Digital Twin for Stress Corrosion Cracking (“SCC-CO2”) and fatigue has been intensified, making a significant contribution to life extension of pipelines. In 2024, we reduced subsea SCC-CO2 production losses by 48.5% when compared to the forecast, through inspection campaigns on flexible pipes and engineering for life extension. We continue to implement initiatives such as expanding the supplier base to develop special