Petrobras leads increase in investments among the world's largest oil and gas companies

“Petrobras has projects capable of generating significant returns and guaranteeing the company's future. They are investing responsibly, focusing on capital discipline and committed to keeping debt under control “ highlighted the Director of Finance and Investor Relations at Petrobras, Sergio Caetano Leite.

Investments are made primarily with Petrobras' own resources generated by its operations. The company's gross debt remains limited to US$65 billion, a level considered healthy for companies in the segment and size of Petrobras.

As a result of these investments, Petrobras began production of four systems in 2023: FPSO Anna Nery and Anita Garibaldi - Marlim and Voador revitalisation projects - FPSO Almirante Barroso in Búzios - reaching nominal capacity in less than five months - and the FPSO Sepetiba, in the Mero field. These systems helped the company exceed 2022 production by 3.7%, reaching 2.78 million boe/d in 2023. This ability to simultaneously implement production systems in ultra-deep waters in the same year places the company in a prominent place in the global industry.

Although oil is still necessary to meet global energy demand, Petrobras has focused on decarbonisation and low-carbon energy projects, thus building the energy transition process in a fair, gradual and inclusive way. Petrobras' Strategic Plan for the five-year period 2024-2028 (PE 2024-28+), foresees investments of around US$ 102 billion over the next five years, an increase of 31% compared to the previous cycle. With this increase in investment, the company estimates the generation of 280 000 direct and indirect jobs per year.

Read the article online at: https://www.oilfieldtechnology.com/special-reports/23042024/petrobras-leads-increase-in-investments-among-the-worlds-largest-oil-and-gas-companies/