Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 109

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 109
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"> CAPEX 2025-2029
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Exploration & Production (E&P)
 With total investments of US$77.3 billion planned for the five-year period of the Business Plan 2025-29 (5% higher than in the previous plan), the E&P segment is allocating around 60% to Pre-salt assets, consolidating a major investment phase in this province and its competitive edge, through better quality oil production, with lower costs and lower greenhouse gas emissions. At the same time, the company is carrying out major revitalization projects (REVITs), seeking to increase recovery factors in mature fields, especially in the Campos basin.

Annual Report and Form 20-F 2024 |
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These are projects that stand out for their dual resilience (economic and environmental) and high economic value, making up a portfolio that is viable in scenarios of low oil prices in the long term, with prospective equilibrium Brent averaging US$28 per barrel and carbon intensity of up to 15 kgCO2e per barrel of oil equivalent over the five-year period. We also forecast an average Total Cost of Produced Oil, which includes Lifting Cost, government participation, depreciation and depletion, of US$36.5/boe during this period, considering government participation according to the average Brent price estimated in the planning assumption.
 
Production of Oil, NGL and Natural Gas
 We expect that ten new production systems will be implemented by 2029, with state-of-the-art technologies that allow for greater efficiency and lower emissions, nine of which have already been contracted. There are also five projects being implemented beyond 2029 and another six projects under study. We are the operator of all these projects, except for Raia field, which is operated by Equinor.
  
With our Business Plan 2025-29, we plan to achieve total production of 3.2 million barrels of oil and gas equivalent per day (boed), including 2.5 million barrels oil per day (bbl/d). To monitor the plan, a margin of ±4% variation is considered in relation to the values forecasted.
 

Annual Report and Form 20-F 2024 |
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 In line with our strategic focus, E&P activities are concentrated on profitable assets. Pre-salt production is expected to represent 81% of