Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 100

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 100
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; PAR-T-175, in the Paraná Basin, totaling R$ 109; as well as blocks C-M-657 and C-M-709, located in the Campos
Basin, as stated in note 25. In 2023, 8 exploration areas located in the pre-salt area of the Campos Basin were returned to ANP, totaling
R$ 2,006 in exploration rights written-off.

For more information see note 26 regarding exploration
and evaluation of oil and gas reserves.

Accounting policy for intangible assets

Intangible assets are measured at the acquisition
cost, less accumulated amortization and impairment losses.

Internally-generated intangible assets are not
capitalized and are expensed as incurred, except for development costs that meet the recognition criteria related to the completion and
use of assets, probable future economic benefits, and others.

| 73 |

| NOTES TO THE FINANCIAL STATEMENTSPETROBRAS(In millions of reais, unless otherwise indicated) |

When the technical and commercial feasibility of
oil and gas production is demonstrated for the first field in an area, the value of the signature bonus is reclassified to property, plant
and equipment at their full value. While they are registered in intangible assets, they are not amortized. Other intangible assets with
defined useful lives are amortized on a straight-line basis over their estimated useful lives.

If, when defining the technical and commercial
feasibility of the first field of a block, there are exploratory activities being carried out in different locations in the block, so
that oil and gas volumes can be estimated for other possible reservoirs in the area, then the value of the signature bonus is partially
reclassified to PP&E, based on the ratio between the volume of oil and gas expected (oil in place - VOIP) of a specific reservoir
and the total volume of oil and gas expected for all possible reservoirs in the area.

If exploratory activities in the remaining areas
do not result in technical and commercial viability, the corresponding value of the signature bonus is not written off, but transferred
to PP&E and added to the value of the signature bonus related to the location that was previously assessed as technically and commercially
viable.

Intangible assets with an indefinite useful life are not amortized
but are tested annually for impairment. Their useful lives are reviewed annually.

| 25. | Impairment |

|                                                       |         | Consolidated |
|                                                       |    2024 |