Company: PBR
Filing Date: 2025-11-28
Form Type: 6-K
Source: 0001292814-25-004081
Chunk: 3

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-28
Form: 6-K
Chunk 3
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 leadership in the
just energy transition with energy security and the country's sustainable development.

The company's sustainable growth is reflected
in its ambition to maintain its relevance in Brazil's energy supply, preserving Petrobras' current share of 31% of Brazil's primary energy
supply until 2050, with a greater share of renewable sources. In addition, Petrobras reaffirms its ambition to neutralize its operational
emissions by 2050.

Exploration and Production (E&P)

The BP 2026-30 allocates investments of
US$ 69.2 billion of E&P projects in the Implementation Target Portfolio over the five-year period.

Of this portfolio, 62% correspond to the
Pre-Salt, 24% to Post-Salt fields, 10% are allocated to Exploration, and around 4% are related to Onshore, Shallow Waters, assets abroad,
technologies or decarbonization projects.

The company raises the level of the oil
and gas production curve in the short and medium term compared to the previous Plan, through better reservoir management, new complementary
wells, and the start-up of new production systems, as well as an increasing availability of natural gas compared to the current supply.

The projects continue to stand out for
their dual resilience (economic and environmental) and high economic value, comprising a portfolio viable under scenarios of low oil prices
in the long term, with the prospective breakeven Brent price of the portfolio averaging US$ 25 per barrel and carbon intensity of up to
15 kgCOe per barrel of oil equivalent over the five-year period.

The company also projects an average Total
Cost of Produced Oil (TCPO) — which includes lifting costs (below US$ 6/barrel), government participation, depreciation and depletion
— of US$ 30.4/boe from 2026 to 2030, considering government take according to the average Brent price estimated as a planning assumption.
This represents a reduction of approximately US$ 6/barrel compared to the TCPO estimate from the previous Plan.

Eight new production systems will be implemented
by 2030, seven of which are already contracted. Additionally, there are ten additional projects planned post-2030. Petrobras operates
all these fields, except for Raia, operated by Equinor.

In the Búzios Field, in the Pre-Salt,
the Plan includes completing the implementation of 11 FPSOs by 2027, with the start-up of already contracted platforms