Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 70

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 70
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 Campos basin.
 
 CHANGES IN PROVED UNDEVELOPED RESERVES(1) (million boe)
 <img alt="" src="form20f_204.jpg"/>
(1) Apparent differences in the sum of the numbers are due to rounding.
 
As of December 31, 2024, 11.2% (619 million boe) of our Proved Undeveloped Reserves have remained undeveloped for five years or more, mainly due to the inherent complexity of deep and Ultra-deepwater development projects in giant fields, particularly in the Santos and Campos basins, in which we are investing in the required infrastructure.
 In 2024, we invested a total of US$14.1 billion in development projects, of which 99.3% was invested in Brazil.
 Most of our investments relate to long-term development projects, which are developed in phases due to the large volumes and extensions involved, the deep and Ultra-deepwater infrastructure and the production resources complexity. In these cases, the full development of the reserves related to these investments may exceed five years.
  
Annual Report and Form 20-F 2024 |

For further information on our reserves, see the unaudited section “Supplementary Information on Oil and Gas Exploration & Production” in our audited consolidated financial statements.
 
Oil and Gas Additional Information
 The following tables show (i) the number of gross and net productive oil and natural gas wells and (ii) total gross and net developed and undeveloped oil and natural gas acreage in which we had interests as of December 31, 2024. A gross well or acre is a well or acre where we own an interest, while the number of net wells or acres is the sum of fractional interests in gross wells or acres. We do not have any material acreage expiring before 2030.
GROSS AND NET PRODUCTIVE WELLS
 
                                           As of December 31, 2024    
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                                                  Oil      Natural Gas
                                       Gross      Net   Gross      Net
Consolidated subsidiaries                                             
Brazil                                   759      716      81       76
South America (outside of Brazil)         31       10     170       58
Total consolidated                       790      726     251      134
Equity method investees                                               
North America                             42     3.28       1     0.06
Total equity method investees             42     3.28