Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 53

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 53
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5.
 In the African continent, we have acquired interests in three exploration blocks in the Democratic Republic of São Tomé and Príncipe, and approved the acquisition of participation in one block in the Republic of South Africa, subject to the approval of the local regulatory bodies. The transaction marks the resumption of exploratory operations in the African continent, with the aim of diversifying our portfolio, and is in line with our long-term strategy.

Annual Report and Form 20-F 2024 |

For information on exploration expenditures written off, see Note 26 Exploration and evaluation of oil and gas reserves of our audited consolidated financial statements.
 
E&P Strategic Programs Highlights
 PROD1000
 In 2024, the PROD1000 strategic program, which began in 2019, concluded all the initiatives planned by the program related to exploration and reservoir development integration, project design standardization, processes optimization and parallelization, and early engagement with suppliers. As a result, PROD1000 has brought viable alternatives to potentially reduce the initial production development schedule to first oil.
 The program has also delivered one patent, implemented three new digital tools, provided over six technical specifications for different equipment, and implemented several process improvements in corporate standards within the E&P.
 Despite the conclusion of PROD1000, the gains from the program will continue to be incorporated into our projects through a routine monitoring process across our project portfolio, in alignment with our Strategic Plan.
 
EXP100
 After five years, EXP100, the Exploration strategic program, was concluded in 2024, achieving remarkable results. The program focused on data and AI democratization, leading to the development of 53 digital solutions that effectively improved the integration and access to technical information.
 A major milestone for the program was the advancement in High-Performance Computing (HPC) for the company, significantly reducing seismic processing time and enhancing computational capacity to improve geophysical data processing.
 Additionally, digital transformation was accelerated through the creation of 47 interactive dashboards, enabling greater agility and accuracy in analysis and decision-making. Altogether, 107 technological solutions were developed, substantially improving exploration processes and reducing uncertainties and costs.
 Following the conclusion of the EXP100 program, a new strategic program, starting in 2025, will be developed to align the company’s updated exploration strategies, reflecting our technological advancements and priorities to address future challenges and lead the energy transition.
 
Production
 Production Development
 After a field is declared commercially viable, the process of production development begins. The investments made in this phase are mainly focused