Petrobras Will Transform, by 2022, Into a Company of Rio de Janeiro, São Paulo, and Espírito Santo

In Rio de Janeiro Alone, Petrobras Is Expected to Invest R$ 16 Billion in Projects Such as a New Oil Production Platform on the Southern Coast

Petrobras will transform, by 2022, into a company based in Rio de Janeiro, São Paulo, and Espírito Santo, according to the company’s president, Roberto Castello Branco. Speaking of transformation, the president of BR Distribuidora, Rafael Grisolia, stated that the Petrobras subsidiary will be a new company starting in 2021, click here for more details.

Before an audience of Rio de Janeiro entrepreneurs at the Commercial Association of Rio de Janeiro (ACRJ), Castelo stated that the activities of exploration and production of oil and natural gas, as well as refining, will be concentrated in these three states.

He highlighted the planned investment for Rio de Janeiro of US$ 54 billion over the next five years. Part of this money, US$ 20 billion will be spent in the Campos Basin, mainly in northern fluminense, to revitalize producing fields that have entered the depletion phase and rely on investment to gain longevity.

Moreover, the state-owned company reserved US$ 4 billion to bring gas from the pre-salt of the Santos Basin to the coast, transport it to the Rio de Janeiro Petrochemical Complex (Comperj), and process it at a gas processing unit (UPGN) that is being built.

Economy Petrobras Will Invest US$ 54 Billion in Projects in Rio Over the Next 5 Years. According to the president of the state-owned company, the company will intensify its focus on oil and gas exploration and production activities.

State-Owned Company Announces Payment of R$ 2.7 Billion to Petros

The oil company reports that it made a prepayment on Monday, August 12, of the Financial Commitment Term (TCF) FAT/FC, in the amount of R$ 2.7 billion, which was due in 2028, resulting from the Reciprocal Obligations Agreement (AOR).

The agreement, according to the company, was made with the Petrobras Social Security Foundation (Petros) and various trade unions in 2006, aiming to provide a solution for the rebalancing of plans, adjustment of their regulations, and conclusion of existing legal disputes.

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