With Oil And Gas Reserves For Another 12 Years, Petrobras Secures Production Guarantee

Written by Paulo Nogueira

Published on 29/01/2024 at 14:41

Fachada do edifício sede da Petrobras (Edise) na Avenida Chile, no Rio de Janeiro – Todos os direitos: EPBR

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In 2023, Petrobras closed with 10.9 billion boe, 84% of which is oil and condensate and 16% natural gas. Net increase.

Petrobras is one of the largest oil companies in the world, operating in several countries and with a decades-long trajectory of leadership in the sector. With oil and gas reserves for more than 12 years, the company plays a fundamental role in the energy supply of Brazil and abroad, contributing to economic and social development. Additionally, Petrobras is always seeking innovation and technology to ensure the efficient and sustainable use of natural resources.

The oil company Petrobras has faced challenges and achievements over the years, adapting to market changes and seeking new growth opportunities. Recently, the company has stood out for its discoveries of oil and gas reserves, bringing good prospects for the future. Petrobras is a reference in the energy sector, with a global impact and a consolidated reputation in the international market.

Petrobras Maintains Its Oil and Gas Reserves

Petrobras revealed that its oil reserves are sufficient to meet demand for more than 12.2 years while maintaining constant production. The total volume of reserves is 10.9 billion barrels of oil equivalent (boe) at the end of 2023, with 84% being oil and condensate and 16% natural gas. These figures, certified by DeGolyer and MacNaughton (D&M) following the SEC criteria, include a net increase of 400 million boe obtained after deducting production. This growth came from new volumes in fields such as Búzios, Tupi, and Atapu in the Santos Basin, as well as the declaration of commerciality of the gas fields of Raia Manta and Raia Pintada, operated by Equinor, in the Campos Basin. However, the company warns of a potential decline, as the pre-salt is expected to decline without new discoveries. It is essential for Petrobras to invest in maximizing the recovery factor and exploring new frontiers to replenish oil and gas reserves. Petrobras’s exploratory bet is on the Equatorial Margin, which stretches from Rio Grande do Norte to Oiapoque (AP), and it is also beginning to advance in the exploration of the Potiguar Basin in the Equatorial Margin. Another point of concern is the escalating conflicts in the Middle East, which could further pressure oil prices in the global market. In addition, the International Energy Agency attests to the importance of maintaining national oil reserves to ensure the country’s energy and economic security. Thus, Petrobras continues to seek new strategies to expand its oil and gas reserves, remaining a key player in the country’s energy scenario.

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With Oil And Gas Reserves For Another 12 Years, Petrobras Secures Production Guarantee

In 2023, Petrobras closed with 10.9 billion boe, 84% of which is oil and condensate and 16% natural gas. Net increase.

Petrobras Maintains Its Oil and Gas Reserves

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