Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000670
Chunk: 168

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 168
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 and natural
gas are the volumes of oil and natural gas that, through analysis of geoscience and engineering data, can be estimated with reasonable
certainty as being, as of a certain date, economically recoverable from known reservoirs and with the economic conditions, operational
techniques and existing government standards, until the expiration of the contracts that provide for the right to operate, unless evidence
provides reasonable certainty of renewal. The hydrocarbon extraction project must have started or there must be reasonable certainty that
the project will start within a reasonable time. These estimates of oil and natural gas reserves require a high level of judgment and
complexity, and influence different items in the company's Financial Statements.

The Company’s estimated net proved oil and gas reserves
and changes thereto for the years 2024, 2023 and 2022 are presented in the following table. Proved reserves are estimated in accordance
with the reserve definitions prescribed by the Securities and Exchange Commission.

Proved developed oil and gas reserves are proved reserves
that can be expected to be recovered: (i) through existing wells with existing equipment and operating methods or in which the cost of
the required equipment is relatively minor compared to the cost of a new well; and (ii) through installed extraction equipment and infrastructure
operational at the time of the reserves estimate if the extraction is done by means not involving a well.

In some cases, there is a need for substantial new investments
in additional wells or equipment to recover these proved reserves, which are called undeveloped proved reserves.

Reserve estimates are subject to variations due to technical
reservoir uncertainties and changes in economic scenarios.

A summary of the annual changes in the proved reserves of oil
is as follows (in millions of barrels):

| 118 |

| SUPPLEMENTARY INFORMATION (Unaudited)PETROBRAS(In millions of reais, unless otherwise indicated) |

|                                                                                                                                                                                                                                  |                     |                    |                         | Consolidated Entities |     | Equity Method Investees |     |       |
| Proved developed and undeveloped reserves (*)                                                                                                                                                                                    | Crude oil in Brazil | Crude Oil in South 
            America | Synthetic Oil in Brazil |    Consolidated Total |     |      Crude Oil in North 
                 America |     | Total |
| At January 1, 2024                                                                                                                                                                                                               |               9,210 |                  2 |                       − |                 9,212 |     |                      16 |     | 9,228 |
|