Petrobras leads investment increase for world’s largest oil and gas company

“Petrobras has projects that can generate significant returns and secure the future of the company. They invest responsibly, focus on capital discipline and strive to manage their debt,” Petrobras Financial・Sergio Caetano Leite, Director of Investor Relations, emphasized:

Investments are primarily made using the company’s own resources generated by Petrobras’ operations. The company’s total debt remains limited to $65 billion, which is considered a healthy level for a company of Petrobras’ sector and size.

As a result of these investments, Petrobras began production of four systems in 2023. One is the Voador activation project with FPSO Anna Nery and Anita Garibaldi-Marlim – her FPSO Almirante Barroso in Buzios – which will reach nominal production capacity within five months – and her FPSO Sepetiba Melo field. Thanks to these systems, the company exceeded its 2022 production by 3.7%, reaching 2.78 million barrels per day in 2023. This ability to simultaneously introduce production systems in ultra-deep water in the same year established the company in a prominent position in the global industry.

Although oil is still needed to meet the world’s energy needs, Petrobras has focused on decarbonization and low-carbon energy projects to build the energy transition process in a fair, gradual and inclusive manner. Petrobras’ five-year strategic plan from 2024 to 2028 (PE 2024-28+) foresees investments of approximately USD 102 billion over the next five years, an increase of 31% compared to the previous cycle. Masu. With this increased investment, the company estimates it will create 280,000 direct and indirect jobs annually.