Company: PBR
Filing Date: 2025-02-27
Form Type: 6-K
Source: 0001292814-25-000664
Chunk: 143

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-02-27
Form: 6-K
Chunk 143
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1 |                  -857 |     |                      -3 |     |   -860 |
| Reserves at December 31, 2022                                                                                                                                                                                                            |                   10,423 |                      33 |                       − |                10,455 |     |                      17 |     | 10,473 |
| (1) Includes the effects of the write-offs related to the Co-Participation Agreements of Atapu and Sepia fields.                                                                                                                         |                          |                         |                         |                       |     |                         |     |        |
| (*) Apparent differences in the sum of the numbers are due to rounding.                                                                                                                                                                  |                          |                         |                         |                       |     |                         |     |        |
| In 2023, we standardized the conversion between gas and oil equivalent to 5,614.65 ft3 = 1 boe, which is equivalent to the conversion used in contracts in Brazil. Quantities from previous years were restated with the new conversion. |                          |                         |                         |                       |     |                         |     |        |

In 2024, we incorporated 1,330 million boe of proved
reserves by revising previous estimates, including:

(i) addition of 883 million boe due to new projects,
mainly in Atapu and Sépia fields and in other fields in Santos, Campos and Solimões basins; and

(ii) addition of 447 million boe, due to the good
performance of assets, mainly in Búzios, Itapu, Tupi and Sépia fields, in the Santos Basin, and other revisions.

We did not have relevant changes related to the
variation in the oil price.

The Company's total proved reserve resulted in
11,386 million boe in 2024, considering the variations above and the reduction from 2024 production of 865 million boe. Production refers
to volumes that were previously included in our reserves and, therefore, does not consider natural gas liquids, since the reserve is estimated
at a reference point prior to gas processing, except in the United States and Argentina. The production also does not consider volumes
of injected gas, the production of Extended Well Tests in exploratory blocks and production in Bolivia, since the Bolivian Constitution
does not allow the registration of reserves by the Company.

In 2023, we incorporated 1,262 million boe of proved
reserves by revising previous estimates, including:

(i) addition of