Petrobras anticipates reaching peak oil production by 2029-2030, extracting 4.6 million barrels daily before a decline. Aligning with the Energy Research Company (EPE)’s projections of a Brazilian output plateau at 5.3 million barrels by 2030, the state-owned firm will maintain its focus on oil and gas, transitioning to more renewables by 2050. Petrobras plans $7.9 billion in exploration investments (2025-2029), including $3.2 billion for the Equatorial Margin, a region with high oil potential but facing licensing challenges due to environmental concerns. CEO Magda Chambriard and Strategy Manager Mario Jorge Silva emphasized balancing pre-salt wealth with exploration from Brazil to Africa, targeting oil and natural gas reserves.
Source: Nova Cana
PETROBRAS ESTIMATES PEAK OIL PRODUCTION AT THE END OF THE DECADE AND DECLINE THEREAFTER
Published On - 28 de November de 2024