Petrobras Will Increase Its Oil Exploration Capacity By 50% By 2025, Says President

Written by Roberta Souza

Published on 28/01/2021 at 17:03

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Roberto Castello Branco, Petrobras President, Said This Morning That The State-Owned Company Will Increase Its Oil Exploration By 50%

Roberto Castello Branco, Petrobras President, said this Thursday that the state-owned company is expected to increase its oil exploration activities in the coming years. The executive mentioned that by 2025, the company will drill up to 58 wells. Roberto stated that compared to the five-year period from 2016 to 2020, this number has increased by 50%.

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The company’s president also mentioned that the focus of exploration activities will continue to be in the Santos Basin, but added that there will also be investments in other new areas, such as the Equatorial Margin.

Focus On Oil Exploration And Production:

During the Credit Suisse online event, Roberto defended Petrobras’ position of focusing solely on oil exploration and production. The executive believes that, even during the energy transition, oil will still have a broad role in the world.

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Renewable Energy Market:

The major oil companies in the world, such as Equinor, BP, and Total, have been showing projects to expand their businesses in the renewable energy market. According to the company’s executive, he stated that the company does not have expertise in this area and therefore prefers to invest in a method he knows: oil and natural gas production.

Petrobras Will Increase Its Oil Exploration Capacity By 50% By 2025, Says President

Roberto Castello Branco, Petrobras President, Said This Morning That The State-Owned Company Will Increase Its Oil Exploration By 50%

See Other News From The Day:

Focus On Oil Exploration And Production:

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Petrobras Will Increase Its Oil Exploration Capacity By 50% By 2025, Says President

Roberto Castello Branco, Petrobras President, Said This Morning That The State-Owned Company Will Increase Its Oil Exploration By 50%

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