Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 48

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 48
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 operation contracts, which are operated mainly to supply gas to Brazil and Bolivia. In 2024, our production of oil and gas in Bolivia, including NGL, was 15.5 mboed. The return on such contracts is a proportion of the production.
 

Annual Report and Form 20-F 2024 |

In Colombia, we operate and hold a 44.44% interest in the GUA-OFF-0 offshore exploration block, which encompasses the significant Sirius gas discovery. This operation is conducted through our subsidiary, Petrobras International Braspetro B.V. - Sucursal Colombia (PIB-COL). Our partner, Ecopetrol S.A, holds the remaining 55.56% interest in this consortium. In June 2024, the Sirius-2 appraisal well confirmed the largest natural gas discovery ever made in Colombian offshore waters. This milestone discovery was officially announced to the market in October 2024. By December 2024, Petrobras and Ecopetrol validated the Sirius-2 well results, revealing gas volumes exceeding 6 trillion cubic feet (Tcf) in place, underscoring the potential of this find.
 
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Natural gas production is expected to begin three years after obtaining the necessary environmental licenses and confirmation of the discovery’s commercial viability. The development plan includes an innovative “subsea to shore” production system, utilizing four wells.
 In December 2024, the consortium announced an estimated investment of US$1.2 billion for the exploratory phase and an additional investment of US$2.9 billion for the production development phase. Petrobras’s share in these investments, through PIB-COL, is aligned with our Business Plan 2025-29.
 This discovery marks a pivotal moment for Petrobras, reinforcing our commitment to energy leadership, sustainable development, and value creation for both the company and Colombia.
 
NORTH AMERICA
 In the United States, we focus on deepwater fields in the Gulf of Mexico, where we have non-consolidated production from the 20% participation of Petrobras America Inc. in our joint venture with Murphy Exploration & Production Company, the MPGOM LLC. The main production fields are Saint Malo, Dalmatian, Lucius and Chinook. In 2024, our participation represented a production of 7.54 mboed, including NGL.

Annual Report and Form 20-F 2024