Company: PBR
Filing Date: 2025-11-07
Form Type: 6-K
Source: 0001292814-25-003847
Chunk: 31

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-11-07
Form: 6-K
Chunk 31
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 this equity-accounted investment to assets
classified as held for sale and its registration at fair value less costs of disposal.

| 20. | Exploration and evaluation of 
 oil and gas reserves          |

Changes in the balances of capitalized costs directly
associated with exploratory wells pending determination of proved reserves and the balance of amounts paid for obtaining rights and concessions
for exploration of oil and natural gas (capitalized acquisition costs) are set out in the following table:

| 36 |

| NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTSPETROBRAS(Expressed in millions of US Dollars, unless otherwise indicated) |

| Capitalized Exploratory Well Costs / Capitalized Acquisition Costs (1)                                   | Jan-Sep/2025 | Jan-Sep/2024 |
| Property plant and equipment                                                                             |              |              |
| Opening Balance                                                                                          |        1,475 |        1,512 |
| Additions                                                                                                |          716 |          254 |
| Write-offs                                                                                               |           -5 |          -25 |
| Transfers                                                                                                |          -86 |            − |
| Translation adjustment                                                                                   |          247 |         -170 |
| Losses on exploration expenditures written off                                                           |          -44 |            − |
| Closing Balance                                                                                          |        2,303 |        1,571 |
| Intangible assets                                                                                        |              |              |
| Opening Balance                                                                                          |        1,609 |        2,313 |
| Additions                                                                                                |            − |           19 |
| Losses on exploration expenditures written off                                                           |         -164 |         -224 |
| Translation adjustment                                                                                   |          251 |         -260 |
| Closing Balance                                                                                          |        1,696 |        1,848 |
| Capitalized Exploratory Well Costs / Capitalized Acquisition Costs                                       |        3,999 |        3,419 |
| (1) Amounts capitalized and subsequently expensed in the same period have been excluded from this table. |              |              |

The additions in the nine-month period ended September
30, 2025, mainly refer to the drilling of wells in the pre-salt layer, associated with the exploratory fields of Aram, in the Santos Basin,
and Norte de Brava, in the Campos Basin.

In the nine-month period ended September 30, 2025
and 2024, losses on exploration expenditures written resulted from economic unfeas