Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 167

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 167
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60,845 |                       |     | 235 |
| December 31, 2022  |     |        |         |        |        |                       |     |     |
| Acquisition costs: |     |        |         |        |        |                       |     |     |
| Proved             |     |      − |       − |      − |      − |                       |     |   − |
| Unproved           |     |  4,242 |       − |      − |  4,242 |                       |     |   − |
| Exploration costs  |     |  3,655 |     263 |    263 |  3,918 |                       |     |   6 |
| Development costs  |     | 35,566 |     157 |    157 | 35,723 |                       |     | 152 |
| Total              |     | 43,463 |     420 |    420 | 43,883 |                       |     | 158 |

| c) | Results of operations for oil and gas producing activities |

The Company’s results of operations from oil and natural
gas producing activities for the years ended December 31, 2024, 2023 and 2022 are shown in the following table. The Company transfers
substantially all of its Brazilian crude oil and natural gas production to its segments of Refining, Transportation & Marketing and
Gas and Low Carbon Energies (G&LCE), respectively, in Brazil. The internal transfer prices calculated by the Company’s model
may not be indicative of the price the Company would have realized had this production been sold in an unregulated spot market. Additionally,
the prices calculated by the Company’s model may not be indicative of the future prices to be realized by the Company. Natural gas
prices used are those set out in contracts with third parties.

Production costs are lifting costs incurred to operate and
maintain productive wells and related equipment and facilities, including operating employees’ compensation, materials, supplies,
fuel consumed in operations and operating costs related to natural gas processing plants.

Exploration expenses include the costs of geological and geophysical
activities and projects without economic feasibility. Depreciation, depletion and amortization expenses relate to assets employed in exploration
and development activities. In accordance with Codification Topic 932 – Extractive Activities – Oil and Gas, income taxes
are based on statutory tax rates, reflecting allowable deductions. Interest income and expense are excluded from the results