Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 170

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 170
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614.65 ft3 = 1 boe, equivalent to the conversion used in contracts in Brazil. The quantities from previous years are restated with the new conversion. |                          |                         |                         |                       |     |                         |     |        |

In 2024, we incorporated 1,330 million boe of proved reserves
by revisions to previous estimates, composed of:

(i) addition of 883 million boe due to new projects, mainly
in the Atapu and Sépia fields, and other fields in the Santos, Campos and Solimões Basins;

(ii) addition of 447 million boe resulting from the good performance
of assets, mainly in the Búzios, Itapu, Tupi and Sépia fields, in the Santos Basin and other revisions.

We had no relevant changes in reserves related to changes
in the price of oil.

The Company's total proved reserve in 2024 resulted in 11,386
million boe, considering the variations described above and discounting the year's production of 865 million boe. This production refers
to volumes that were included in our reserves and, therefore, does not consider natural gas liquids, since the reserve is estimated at
a reference point prior to gas processing, except in the United States and Argentina. Production also does not consider volumes of injected
gas, the production of long-term tests in exploratory blocks and production in Bolivia, since the Bolivian Constitution does not allow
the Company to record reserves.

In 2023, we incorporated 1,262 million boe of proved reserves
by revising previous estimates, including:

(i) addition of 1,092 million boe arising from the good performance
of assets, mainly in Búzios, Tupi and Atapu fields, in the Santos Basin;

(ii) addition of 170 million boe due to new projects and other
revisions.

We did not have relevant changes on reserves related to the
variation in the oil price.

In addition, we incorporated 237 million boe from discoveries
and extensions, mainly due to the declaration of commerciality of Raia Manta and Raia Pintada fields (non-operated), in the Campos Basin.

Moreover, proved reserves were reduced by 155 million boe,
resulting from sales.

The Company's total proved reserve resulted in 10,921 million
boe in 2023, considering the variations above and the reduction from 2023 production of